Regulatory Settlements in 2012

Regulatory Settlement with OCBC Bank (M) Berhad
On 2 December 2013, the SC entered into a settlement with OCBC Bank (M) Berhad (OCBC) when the latter agreed without admission or denial of liability, to settle a civil claim that the SC was proposing to institute against it with respect to the manipulation of DRB-Hicom Berhad shares on 25 July 2011, contrary to section 176(1)(b) of the Capital Markets and Services Act 2007 (CMSA).The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum that OCBC was required to disgorge was RM2,475,000 which is equivalent to three times the pecuniary gain of RM825,000 which OCBC had made as a result of the breach. In accordance with section 200(3) of the CMSA, the amount recovered from OCBC will be used first to reimburse the SC for all costs of the investigation and proceedings. Any remaining amount, if available, will be used to compensate the investors who suffered loss as a result thereof.

Regulatory Settlement with OCBC Bank (M) Berhad

On 2 December 2013, the SC entered into a settlement with OCBC Bank (M) Berhad (OCBC) when the latter agreed without admission or denial of liability, to settle a civil claim that the SC was proposing to institute against it with respect to the manipulation of DRB-Hicom Berhad shares on 25 July 2011, contrary to section 176(1)(b) of the Capital Markets and Services Act 2007 (CMSA).The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum that OCBC was required to disgorge was RM2,475,000 which is equivalent to three times the pecuniary gain of RM825,000 which OCBC had made as a result of the breach.

In accordance with section 200(3) of the CMSA, the amount recovered from OCBC will be used first to reimburse the SC for all costs of the investigation and proceedings. Any remaining amount, if available, will be used to compensate the investors who suffered loss as a result thereof.

about the SC

The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

General Line: +603-6204 8000
General Email: [email protected]