Jason’s CMSRL was revoked under section 72 read together with section 65 of the Capital Markets and Services Act 2007 (CMSA) when he was found to have engaged in business practices appearing to the Commission to be deceitful or otherwise improper. In this regard, Jason had caused 10 cheque payments amounting to RM2.5 million from four of his clients, to be allocated into his wife’s trading and banking account.

As such, the SC finds that Jason is no longer fit and proper to continue to be licensed to carry out regulated activities in the Malaysian capital market. Jason has not filed any appeal against the SC’s decision within the prescribed time provided in the CMSA.