7 December 2011
Regulatory settlement with Rameli Bin Musa
On 16 November 2011, the SC entered into a settlement with Rameli bin Musa in the sum of RM36,050 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading in the shares of Crest Petroleum Berhad (Crest) between 15 January 2003 and 17 January 2003, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum Rameli bin Musa was required to disgorge was equivalent to three times the gains he made from his trades in Crest shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from Rameli bin Musa will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to him before the information became generally available.
Regulatory settlement with Chong Mei Ngor
On 13 October 2011, the SC entered into a settlement with Chong Mei Ngor in the sum of RM88,110 when she agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against her for insider trading in the shares of Sin Chew Media Corporation Berhad (Sin Chew) between 25 January 2007 and 30 January 2007, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum she was required to disgorge was equivalent to three times the gains she made from her trades in Sin Chew shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from Chong Mei Ngor will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to her before the information became generally available.
Regulatory settlement with Foong Choong Heng
On 3 October 2011, the SC entered into a settlement with Foong Choong Heng in the sum of RM281,361 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading in the shares of Crest Petroleum Berhad (Crest) between 14 January 2003 and 21 January 2003, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum he was required to disgorge was equivalent to three times the gains he made from his trades in Crest shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from Foong Choong Heng will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to him before the information became generally available.
Regulatory settlement with Ong Sew Teng
On 3 October 2011, the SC entered into a settlement with Ong Sew Teng in the sum of RM71,280 when she agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against her for insider trading in the shares of Sin Chew Media Corporation Berhad (Sin Chew) between 24 January 2007 and 30 January 2007, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum she was required to disgorge was equivalent to three times the gains she made from her trades in Sin Chew shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from Ong Sew Teng will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to her before the information became generally available.
Regulatory settlement with Chong Hiong Lim
On 3 October 2011, the SC entered into a settlement with Chong Hiong Lim in the sum of RM161,040 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading in the shares of Sin Chew Media Corporation Berhad (Sin Chew) between 25 January 2007 and 30 January 2007, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum he was required to disgorge was equivalent to three times the gains he made from his trades in Sin Chew shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from Chong Hiong Lim will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to him before the information became generally available.
Regulatory settlement with Soon Khiat Voon
On 3 October 2011, the SC entered into a settlement with Soon Khiat Voon in the sum of RM33,750 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading in the shares of Sin Chew Media Corporation Berhad (Sin Chew) between 25 January 2007 and 30 January 2007, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum he was required to disgorge was equivalent to three times the gains he made from his trades in Sin Chew shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from Soon Khiat Voon will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to him before the information became generally available.
Regulatory settlement with Parmjit Singh a/l Meva Singh & Sushil Kaur a/p Dulla Singh
On 28 September 2011, the SC entered into a settlement with Parmjit Singh a/l Meva Singh and Sushil Kaur a/p Dulla Singh in the sum of RM83,513 when they agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against them for insider trading in the shares of Crest Petroleum Berhad (Crest) between 14 January 2003 and 16 January 2003, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sums both of them were required to disgorge was equivalent to three times the gains they made from their trades in Crest shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from them will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to them before the information became generally available.
Regulatory settlement with Lee Kwong Joo
On 18 September 2011, the SC entered into a settlement with Lee Kwong Joo in the sum of RM18,000 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading in the shares of Sin Chew Media Corporation Berhad (Sin Chew) between 25 January 2007 and 30 January 2007, contrary to section 89E of the Securities Industry Act 1983 (SIA).The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum he was required to disgorge was equivalent to three times the gains he made from his trades in Sin Chew shares.In accordance with the provisions of section 90A(7) of the SIA, the amount recovered from Lee Kwong Joo will be used first to reimburse the SC for all costs of investigations and proceedings. The remaining amount will be used to compensate the sellers who sold their shares to him before the information became generally available.
15 April 2011
Regulatory settlement with Heah Sieu Lay
On 29 March 2011 the SC entered into a settlement with Mr Heah Sieu Lay in the sum of RM77,576 when he agreed, without admission of liability to make the payment. This sum constituted a disgorgement of twice the profits arising from alleged irregularities in his trading of Nexnews Berhad shares between 4 May 2007 and 10 May 2007. This settlement followed the SC’s proposed proceedings under section 89E and 90(1) of the Securities Industry Act 1983 .
Regulatory settlement with Tan Kong Han
On 29 March 2011 the SC entered into a settlement with Mr Tan Kong Han in the sum of RM24,760 when he agreed, without admission of liability to make the payment. This sum constituted a disgorgement of twice the profits arising from alleged irregularities in his trading of Nexnews Berhad shares between 3 May 2007 and 17 August 2007. This settlement followed the SC’s proposed proceedings under section 89E and 90(1) of the Securities Industry Act 1983.
Regulatory settlement with Kanesan a/l Veluppillai
On 22 March 2011 the SC entered into a settlement with Kanesan a/l Veluppillai in the sum of RM98,247 when he agreed, without admission of liability to make the payment. This sum constituted a disgorgement of three times the profits arising from alleged irregularities in his trading of Nexnews Berhad shares between 3 May 2007 and 10 May 2007. This settlement followed the SC’s proposed proceedings under section 89E and 90(1) of the Securities Industry Act 1983.