Bursa Malaysia Securities Berhad has publicly reprimanded, imposed a fine of RM667,500, and ordered to strike off Tye Lim Huat who was at that time a Commissioned Dealer with Malacca Securities from the Register for misconduct including short selling activities.
The Exchange said it views misconducts that compromise the integrity of the market and client’s protection and impinge on the integrity and professional conduct/etiquette of Registered Persons, including Dealer’s Representatives, seriously and will not tolerate any unlawful trading practices.
It added, the Dealer’s Representatives must undertake trading activities in strict compliance with the Rules of Bursa Malaysia Securities and relevant laws including acting with integrity in maintaining market confidence. Bursa Malaysia Securities said it will not hesitate to take appropriate actions against anyone who engages/participates in such misconduct or fails to carry out their duties with utmost integrity, including striking off a Dealer’s Representative from the Register and imposing a fine that commensurates with the severity of the breach.
