SC obtains conviction against an individual for unlicensed trading in futures contract

30 April 2013 | Kuala Lumpur

The Sessions Court convicted Zamani Hamdan today for carrying on the business of trading in futures contracts without a Capital Markets Services Licence (CMSL) through his company Rantau Simfoni Sdn Bhd.

Zamani who was the Managing Director and Chief Executive Officer of the company committed the offence between March and April 2010 where he collected RM215,000 from 11 investors throughout this period.

Zamani was convicted by the Sessions Court judge Dato’ Rozana Ali Yusoff and sentenced to pay a fine of RM1 million (in default of one year imprisonment) under section 58(1) read together with section 367(1) of the Capital Market and Services Act 2007 (CMSA).

SECURITIES COMMISSION MALAYSIA

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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.

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