Azam Baki did not breach any laws, in control of his trading account, says SC


PETALING JAYA: Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki did not breach any laws pertaining to his share trading account, reiterates the Securities Commission (SC).

In a brief statement, the SC said evidence gathered in its inquiry into Azam’s share trading account showed that the MACC chief was the named account holder and had control of the account.

“Azam operated the account that he had opened, in that he had given instructions to buy, sell and transfer securities from the said account.

“Therefore, the SC arrived at the decision that there was no breach of Section 25(4) of the Securities Industry (Central Depositories) Act 1991 (SICDA).

Section 25(4) provides that a trading account must be opened in the name of the beneficial owner or authorised nominee.



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