SC revokes CMSRL licences of 2 individuals

By TMR

The Securities Commission Malaysia (SC) has revoked the Capital Markets Services Representative’s Licences (CMSRLs) of Ewe Lay Peng and Tan Yee Chee.

In a statement issued yesterday, the SC said Ewe’s and Tan’s CMSRLs were revoked effective Sept 3, 2018, as the capital market regulator has reason to believe that they are no longer fit and proper to carry out regulated activities in the Malaysian capital market.

Ewe was charged on March 29, 2017, under section 188(3)(b) of the Capital Markets and Services Act 2007 (CMSA) for communicating non-public information.

The SC has also sued Tan and a consent judgement was recorded on Aug 15, 2017, which declared him in breach of section 188(2)(a) of the CMSA for insider trading.

The licences were revoked under section 72 read together with section 65 whereby Ewe and Tan have not filed any appeal against SC’s decision within the prescribed time as provided under the CMSA. — TMR