Lim’s CMSRL was revoked under section 72 read together with section 65 of the Capital Market and Services Act 2007 (CMSA) when he was found to have engaged in improper business practices when trading in Magna Prima Berhad shares. Lim was formerly attached to Kenanga Investment Bank Berhad.

Lim was also earlier reprimanded, fined RM140,000 and suspended by Bursa Malaysia for 12 months for the same breach under the Pre-Revamped Rules of Bursa Malaysia Securities.

Lim has not filed any appeal against the SC’s decision within the prescribed time provided in the CMSA.