KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) recently reprimanded three former unit trust scheme (UTS) and private retirement scheme (PRS) consultants for misconduct and breaches of FIMM’s Consolidated Rule.
FIMM said in a statement that the consultants were also found to have breached its code of ethics and rules of professional conduct.
FIMM said former UTS consultant of Malayan Banking Bhd
Mohd Nur Aliff Hasroni failed to provide clear explanations on the features and sales charges of a fixed deposit bundled with Amanah Saham Nasional Bhd’s sukuk investment to two investors, besides forging their signatures.
Former UTS and PRS consultant of Principal Asset Management Bhd, Nor Azlina Omar, was found to have submitted seven UTS redemption forms bearing forged investors’ signatures and carried out seven unauthorised UTS redemptions amounting to RM163,963.82.
Former UTS consultant of Public Mutual Bhd, Mohamad Firdaus Ahmad, was found to have accepted RM15,000 in cash from an investor for a UTS investment and RM1,000 from another investor into his personal bank account. — Bernama
