Bursa Malaysia reprimands, fines, suspends dealer rep

PETALING JAYA: Bursa Malaysia Securities Bhd has publicly reprimanded, imposed a fine of RM8,000 and suspended/restricted Kwan Chun Han for three months as/from being a registered person of Bursa Malaysia Securities for engaging in misconducts/breaches relating to unauthorised trades in a client's account.
The regulator said in a statement that Kwan was required to undergo training on conduct or professionalism of dealer's representatives/market offences.
Kwan, who was at the material time of the breach a commissioned dealer's representative of RHB Investment Bank Bhd at its principal office, had contravened and/or triggered Rules 3.14(d), (e) & (f), 5.16(1)(b) & (c) [(read together with Paragraph 11.2(a) of Directives No. 5-001 of the Participating Organisations' Directives and Guidance] and 15.09(a), (g) & (i)(iii) of the Rules of Bursa Malaysia Securities.
Bursa Malaysia said the finding of the breach and imposition of the sanctions on Kwan were made pursuant to Rule 15.02 of the Rules of Bursa Malaysia Securities after according due process to Kwan and taking into consideration all facts and circumstances.
It views seriously misconducts that impinge on the professional conduct of registered persons and compromise clients' protection as such misconducts may adversely affect and damage market integrity and public confidence.
Bursa Malaysia said it will not hesitate to take appropriate action against anyone who engages in such misconducts, including imposition of fines and suspension/restriction/striking off a registered person from the register commensurate with the severity of the breach.