KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) has reprimanded four former unit trust scheme (UTS) and private retirement scheme (PRS) consultants for breaching the FIMM’s Consolidated Rules and FIMM’s Code of Ethics.
In a statement, FIMM said three UTS consultants were found to be in breach of rules for submitting falsified academic certificates as part of their application for registration as UTS consultants.
The consultants were Iskandar Zulkarnain Abdul Wahid and Nora Mohamed Ismail, who are barred from registration with FIMM for one year, effective Sept 18, 2025 and Jan 8, 2026, respectively.
Additionally, Wong Win Sam is barred from registration with FIMM for two years, effective Jan 8, 2026.
Meanwhile, one former UTS and PRS consultant, Nor Leza Nazir, is barred from registration with FIMM for two years, effective Jan 8, 2026, for breaching FIMM’s code and rules.
"FIMM will take action against those who fail to comply with any rules issued by FIMM.
"This is to deter UTS and/or PRS Consultants from committing any misconduct and to remind them that it is crucial to observe FIMM’s Rules when marketing and distributing UTS and/or PRS in Malaysia to protect the interests of the investing public,” it added. - Bernama
