Kuala Lumpur, 2 March 2016
SC Revokes Licences of Two Individuals
The Securities Commission Malaysia (SC) has revoked the Capital Market Services Representative’s Licences (CMSRLs) of two individuals, Low Lay Ai and Tan Kai Kiat effective from 28 January 2016.
Their CMSRLs were revoked under section 72 read together with section 65 of the CMSA when they were found to have engaged in improper business practices.
As such, the SC finds that these individuals are no longer fit and proper to continue to be licensed to carry out regulated activities in the Malaysian capital market.
Low and Tan were formerly attached to Affin Hwang Investment Bank Berhad.
Both Low and Tan have not filed any appeal against the SC’s decision within the prescribed time provided in the CMSA.
SECURITIES COMMISSION MALAYSIA