KUALA LUMPUR (Feb 17): The Securities Commission Malaysia (SC) has revoked the licences of four dealers after they were found to have engaged in improper business practices. In a statement today, the regulator said it finds Yew Hock Ming, Ling Chen Yew and Tiong Siew Ngaik — who were formerly attached with RHB Investment Bank Bhd, Affin Hwang Investment Bank Bhd and Kenanga Investment Bank Bhd respectively — no longer fit and proper to carry out regulated activities in the Malaysian capital market. The SC said it also revoked the Capital Markets Services Representative’s Licence of Theng Boon Cheng, who was formerly attached with AmInvestment Bank Bhd, as it has reason to believe he will not carry on the regulated activity of dealing in securities efficiently, honestly or fairly. Their licences were revoked under section 72, read together with section 65 of the Capital Markets and Services Act 2007.

Source: The Edge Markets February 17, 2017 08:15 UTC