KUALA LUMPUR (Oct 31): Bursa Malaysia Securities has publicly reprimanded, fined and suspended Chiang May Lin, who is a registered person of Bursa Malaysia Securities, for engaging in manipulative dealing activities in the shares of 12 counters. At the material time, Chiang was a commissioned dealer’s representative (CDR) of PM Securities Sdn Bhd at its Penang branch office. To do so, Chiang had input two clients’ opposing corresponding orders close together, at the price and quantity that took up each other’s orders. Her action had created a false or misleading appearance as to the market for/price of the shares of these 12 counters, said Bursa. The sanctions imposed, including the fine, had taken into account amongst others, the period and number of breaches/counters involved, the impact of these breaches and the relatively significant sum of commission generated and earned by her, from these false market activities, it added.

Source: The Edge Markets October 31, 2016 11:32 UTC