SC Revokes Fund Management Licence of VCB Capital Sdn Bhd
2 October 2019   |   Kuala Lumpur
The Securities Commission Malaysia (SC) has dismissed VCB Capital Sdn Bhd (VCB)’s appeal against the SC’s decision to revoke its fund management licence.

VCB’s license was revoked pursuant to section 72(2)(a)(i) read together with section 64(1)(j), 64(1)(h)(v) of the Capital Markets and Services Act 2007 when the SC found that the manner in which VCB conducted its business casted doubt on its competence and soundness of judgement as a fund manager.

SC-World Bank-IOSCO Asia Pacific Hub Conference 2019: Enhancing Financial Inclusion through Islamic Finance and FinTech
(From left to right):
  1. Abayomi A. Alawode, Head of Islamic Finance, Finance, Competitiveness and Innovation, The World Bank Group
  2. Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia (SC)
  3. Dr. Firas Raad, Country Manager for Malaysia, East Asia and Pacific, The World Bank Group 
  4. Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive of SC
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