Bursa Malaysia Securities Berhad [Registration No.: 200301033577 (635998-W)] (Bursa Malaysia Securities) has publicly reprimanded, imposed a fine of RM48,000 and suspended/restricted (as the case may be) Hazni bin Othman (HAZNI) for 5 months as/from being a Registered Person of Bursa Malaysia Securities, for engaging in manipulative trading activities in the securities of Hap Seng Consolidated Berhad (HAPSENG).
In addition, HAZNI was required to undergo training on conduct or professionalism of Dealer’s Representatives (DRs)/market offences.
HAZNI, who was at the material time of the breach a Salaried Dealer’s Representative (SDR) of Affin Hwang Investment Bank Berhad (AHIBB) at its Principal Office, had contravened and/or triggered the provisions of Rules 3.14(d), (e) & (g), 5.01(a) & (b) and 15.09(a) & (g) of the Rules of Bursa Malaysia Securities and Paragraphs 1.1(1)(a), (b), (e) & (h) of Directives No. 5-001 of the Participating Organisations’ Directives and Guidance (Directives No. 5-001).
Bursa Malaysia Securities places strong emphasis on the need to maintain a fair and orderly market and will not tolerate any acts or practices which could lead to false trading, manipulative activities and/or compromise the integrity of the market. Bursa Malaysia Securities will not hesitate to take appropriate actions against anyone who engages in such misconducts which commensurate with the severity of the breach, including suspension/striking off a Registered Person from the Register and imposition of fines.
Click here for full details.
