KUALA LUMPUR: The Securities Commission Malaysia (SC) has concluded its enquiry in relation to the Malaysian Anti-Corruption Commission chief commissioner Tan Sri Azam Baki’s trading account and, based on the evidence gathered, it is not able to conclusively establish that a breach under Section 25(4) Sicda has occurred, Bernama reported.

As a capital market regulator, the SC said that its regulatory remit are set out under the Securities Commission Malaysia Act 1993 (SCA), Capital Markets and Services Act 2007 (CMSA), and Securities Industry Central Depositories Act 1991 (Sicda).

The statement came in response to media queries received yesterday on the outcome of the SC’s inquiries under Section 25(4) Sicda in relation to Azam’s trading account (the said inquiry).

“In this regard, the said inquiry relates to the issue of whether a potential breach under Section 25(4) Sicda occurred.

“Section 25(4) Sicda provides that a trading account must be opened in the name of the beneficial owner or authorised nominee,” it said in a statement.

Charles Ramendran reports: In a statement today, Azam said he was thankful the Securities Commission had cleared him of the alleged offences.

“Alhamdulilah, I am thankful for the decision by the Security Commission that has found I have not committed any offence.” he said.

Azam said he was informed by the SC that an inquiry on the matter was concluded and closed.

He said following the decision, he will continue his responsibility as head of the MACC to fight corruption in the country without fear or favour.