Posted by Good123 > 2023-12-23 18:44 | Report Abuse

ACGA analyst Chris Leahy said regulators' efforts are hampered by political interference and material delays in cases that are prosecuted through the Attorney General's Office, even where SC has the right of audience as deputy prosecutors.

"We have seen this in some high-profile market manipulation, insider dealing and corruption cases where actions against certain subjects are inexplicably dropped despite material evidence to support prosecution."This casts serious doubts on Malaysia's appetite to tackle political and business corruption."

Leahy said despite creditable efforts by SC and Bursa Malaysia to enforce securities violations such as insider trading and market manipulation, these issues continue to be a material problem for Malaysia's securities markets.

Many of these problems occur among small-cap companies listed on Bursa Malaysia that have smaller free floats and are easier for insiders and market syndicates to control and manipulate.

Executives from SC and Bursa Malaysia, during a discussion admitted that this issue continues to be problematic for Malaysia's markets, he said.This shows they have a difficult job to do, added Leahy.

With the prevalence of political influence within the legal systems and the ability of certain insiders to exploit their influence to ensure legal impunity, issues with insider trading and market manipulation are unlikely to improve without a sea of change within Malaysia's political system.

"This change is not something that will happen overnight, if at all," said Leahy.

Posted by ID007 > 2 months ago | Report Abuse

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