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SC unable to conclusively establish if Azam Baki breached trading regulations
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Publish date: Tue, 18 Jan 2022, 03:55 PM
KUALA LUMPUR: The Securities Commission said it has not been able to establish that there was a breach of regulation with relation to the trading account of Malaysian Anti-Corruption Commission chief commissioner Tan Sri Azam Baki.
"The SC has concluded its enquiry and based on the evidence gathered, the SC is not able to conclusively establish that a breach under section 25(4) SICDA has occurred," it said in a statement.
The capital markets regulator said the issue over Azam's trading account relates to whether there was a breach under Section 25(4) of the Securities Industry (Central Depositories) Act 1991 (SICDA).
https://www.thestar.com.my/news/nation/2022/01/18/sc-unable-to-conclusively-establish-if-azam-baki-breached-section-254-of-sicda
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SC was investigated by MACC after SC investigate MACC chief.So now i help you ,you help me...
2022-01-18 20:34
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KUALA LUMPUR, Jan 13 — The Securities Commission of Malaysia (SC) will be calling up the brother of Tan Sri Azam Baki for an interview over alleged violation of stock trading laws by the Malaysian Anti-Corruption Commission (MACC) chief commissioner.
According to sources familiar with the matter, Nasir Baki is set to give his statement to the regulatory body soon as to why and whether he chose to use his brother’s share trading account to buy shares in 2015, since it was understood that he has his own trading account.
On January 5, Azam in a news conference admitted that he had allowed his brother Nasir to use his share trading account to buy the shares, but insisted he had not committed any wrongdoing and said he had no interest or benefit in those shares.
The MACC chief’s statement on January 5 triggered an SC investigation.
It is understood that the SC had not been informed of Azam authorising his brother to use his trading account up until Azam’s public disclosure on January 5.
Under Section 25 of the SICDA, every securities account opened with a central depository must be in the name of the beneficial owner of the deposited securities or in the name of an authorised nominee.
Section 29A of SICDA also stipulates that all dealings in securities shall be effected only by the beneficial owner of the securities or an authorised nominee.
So what more SC needed to conclusively establish that a breach under section 25(4) SICDA has occurred.
2022-01-18 16:24