SC Issues Notice to Investors to File Claims For Restitution
The Securities Commission Malaysia (SC) is calling members of the public who had invested in an illegal futures and equity trading scheme to file their claims for restitution.
The restitution process is initiated following administrative sanctions imposed against Mohd Faizal Jamaludin (NRIC: 760405-01-5625) who was found to have carried out fund management activity without a licence. As at 7 February 2018, approximately RM157,634.97 in Faizal’s account has been secured for the purposes of restitution to eligible investors.
Investigation by the SC found that Faizal had carried out the regulated activity of fund management without holding a licence when he accepted monies from third parties between February and December 2015, purportedly to invest in futures and equities on behalf of the said third parties.
Members of the public who had invested in a futures and equity trading scheme with Faizal between February and December 2015 are required to submit their claims, together with necessary proof of investment, to SC before 5pm on 10 May 2018. The claim form and more details on the matter are available on SC’s website at www.sc.com.my/claim.
Upon receipt of the claims, the SC will determine a rate of restitution based on the available funds, total number of claimants and the sums that are proved to have been invested at the material point of time.
Investors with any queries regarding the restitution process may contact the Consumer & Investor Office at 03-62048999 or [email protected].