SC revokes dealer’s licence, fines RM100,000

23 May 2019 / 12:27 H.

KUALA LUMPUR: The Securities Commission Malaysia (SC) has revoked the Capital Markets Services Representative’s Licence (CMSRL) of Chu Li Choon, effective May 10, 2019, for various improper business practices when transacting for her client.

Chu’s CMSRL was revoked under Section 72 read together with section 65 of the Capital Markets and Services Act 2007 (CMSA), as she is no longer fit and proper to carry out regulated activities in the Malaysian capital market. Chu was formerly attached with CIMB Investment Bank.

In addition, the SC imposed a penalty of RM100,000 against Chu for failing to comply with the condition of her CMSRL which requires her to remain fit and proper at all times as provided under Paragraph 7.03(1) of the SC’s Licensing Handbook.

The SC has considered and rejected an appeal by Chu against the SC’s decision.

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