SC unable to conclusively establish if Azam Baki breached trading regulations


KUALA LUMPUR, Jan 18  — The Securities Commission Malaysia (SC) has concluded its enquiry in relation to the Malaysian Anti-Corruption Commission Chief Commissioner Tan Sri Azam Baki’s (picture) trading account and based on the evidence gathered, it is not able to conclusively establish that a breach under Section 25(4) SICDA has occurred.

As a capital market regulator, the SC said that its regulatory remit are set out under the Securities Commission Malaysia Act 1993 (SCA), Capital Markets and Services Act 2007 (CMSA), and Securities Industry Central Depositories Act 1991 (SICDA).

The statement came in response to media queries received today on the outcome of the SC’s inquiries under section 25(4) SICDA in relation to Azam Baki’s trading account (the said inquiry).

“In this regard, the said inquiry relates to the issue of whether a potential breach under Section 25(4) SICDA occurred.

“Section 25(4) SICDA provides that a trading account must be opened in the name of the beneficial owner or authorised nominee,” it said in a statement.