Civil Action in 2013 - Civil Actions and Regulatory Settlements

Civil Action in 2013

No.	Breach	Defendants	Brief facts of the case
1.	Breach of the Guideline on Compliance Function for Fund Managers. [Section 360 CMSA] Fraudulently inducing persons to deal in securities. [Section 87 (1) of the SIA and Section 178(1) of the CMSA] Carrying out a regulated activity without a licence. [Section 15A SIA/Section 58 CMSA and Section 15B SIA and Section 59 of the CMSA]	RBTR Asset Management Bhd (RBTR) Locke Guaranty Trust Limited, New Zealand (LGT) Locke Capital Investments Ltd, British Virgin Island (LCI) Al Alim bin Mohd Ibrahim Valentine Khoo Isaac Paul Ratnam Nicholas Chan Weng Sung Joseph Lee Chee Hock	On 23 January 2013, the SC filed a civil action against RBTR Asset Management Bhd (RBTR) and seven other defendants for various breaches of the securities laws. The SC is seeking, among others: An order that the defendants make restitution of RM13.35mil to the Euro Deposit Investment (EDI) scheme investors who had not been repaid their investments; An order that the defendants’ assets be traced and paid over to the SC for purposes of compensating the EDI scheme investors; An order that two of the defendants, Al Alim bin Mohd Ibrahim (Al Alim) and Valentine Khoo be barred from being a director of any public listed company for a period of 10 years; At the material time, Al Alim and Valentine Khoo were directors of RBTR and holders of the SC’s Fund Manager’s Representative Licence.

No.

Breach

Defendants

Brief facts of the case

Breach of the Guideline on Compliance Function for Fund Managers.
[Section 360 CMSA]
Fraudulently inducing persons to deal in securities.
[Section 87 (1) of the SIA and Section 178(1) of the CMSA]
Carrying out a regulated activity without a licence.
[Section 15A SIA/Section 58 CMSA and Section 15B SIA and Section 59 of the CMSA]

RBTR Asset Management Bhd (RBTR)
Locke Guaranty Trust Limited, New Zealand (LGT)
Locke Capital Investments Ltd, British Virgin Island (LCI)
Al Alim bin Mohd Ibrahim
Valentine Khoo
Isaac Paul Ratnam
Nicholas Chan Weng Sung
Joseph Lee Chee Hock

On 23 January 2013, the SC filed a civil action against RBTR Asset Management Bhd (RBTR) and seven other defendants for various breaches of the securities laws. The SC is seeking, among others:

An order that the defendants make restitution of RM13.35mil to the Euro Deposit Investment (EDI) scheme investors who had not been repaid their investments;
An order that the defendants’ assets be traced and paid over to the SC for purposes of compensating the EDI scheme investors;
An order that two of the defendants, Al Alim bin Mohd Ibrahim (Al Alim) and Valentine Khoo be barred from being a director of any public listed company for a period of 10 years;

At the material time, Al Alim and Valentine Khoo were directors of RBTR and holders of the SC’s Fund Manager’s Representative Licence.

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]