Administrative Actions in 2009

No.	Nature of Misconduct	Parties Involved	Brief description of misconduct	Action Taken
DIRECTIVES
1.	Furnished misleading statements to the SC and Bursa Malaysia Berhad (Bursa)	MEMS Technology Berhad (MEMS)	MEMS furnished misleading statements to the SC and Bursa on its revenue in its financial statements for the financial years ended 31 July 2007 and 31 July 2008 and for the six month period ended 31 January 2009.	Directed to rectify and reissue financial statements for the financial years ended 31 July 2007 and 31 July 2008; and to rectify and re-announce to Bursa the financial statements for the six month period ended 31 January 2009.
2.	Breach of Section 354(1)(b)(i) of the Capital Markets and Services Act 2007 for failure to comply with the Rules of Bursa Malaysia Securities Berhad	JPMorgan Securities Sdn Bhd (a Capital Markets Services Licence holder carrying out dealing in securities, trading in futures contracts, advising on corporate finance and investment advice)	Failure to require its client to disclose availability of sufficient securities for purposes of delivery Failure to maintain adequate internal controls and exercise strict supervision over the overall operation of its business activities at all times.	Penalty of RM100,000

Note: All administrative actions taken by the Securities Commission are subject to the aggrieved person’s right to appeal to the Commission for a review of the decision under section 146 of the Securities Commission Act 1993 or section 364 of the Capital Markets & Services Act 2007 within 30 days of the decision at first instance.

No record found.