Enforcement
ENFORCEMENT ACTIVITIES
2015
2016
2017
2018
Cases referred to Enforcement
22272016
Investigations initiated (no. of cases)
101386
Investigations completed (no. of cases)
13101012
Persons charged in criminal proceedings
1717108
Criminal charges laid
220613914
Persons against whom civil actions initiated
5220-
Person involved in regulatory settlements
6273
Administrative actions
41373280
  • Criminal Prosecutions and Appeals
    As at 30 September 2021, there were 14 ongoing criminal trials at the Sessions Court for various breaches of the securities laws. The securities laws breaches include furnishing misleading or false reports to the SC and the stock exchange, market manipulation, insider trading and securities fraud. As for criminal appeals, there were 10 ongoing appeals at the High Court and Court of Appeal.

    Details and relevant updates of the criminal cases for Q3 2021 are summarised in the table below:

    No.

    Nature of offence

    Offender(s)

    Outcome

    1.

    Knowingly causes the
    furnishing of a false
    statement to the stock
    exchange

    Ong Kar Kian (Ong KK)

    Ong KK was charged on 30 September 2021.

  • Civil Actions
    As at 30 September 2021, there were 11 ongoing civil cases at the High Court and Court of Appeal. In Q3 2021, a total of 2 civil suits were filed in the High Court in relation to insider trading activity. The SC also entered into 4 regulatory settlements and managed to disgorge a total amount of RM1,079,650.01.

    Details and updates of the civil cases for Q3 2021 are summarised in the table below:

    No.

    Breach

    Defendant(s)

    Outcome

    1. Insider trading in the
    shares of Transocean
    Holdings Bhd
    • Tan Swee Hock (Tan
      SH)
    • Chan Sze Yeng (Chan
      SY)
    • Cheng Seng Chow
      (Cheng SC)

     

    On 22 July 2021, the SC filed a civil suit against the defendants.

    The SC sought, among others:

    • The defendants pay to the SC, the disgorged profit amounting to RM755,718;
    • Tan SH pays to the SC, a civil penalty of RM200,000;

    • Chan SY and Cheng SC pay to the SC, a civil penalty of RM100,000 respectively;

    • The defendants are barred from holding a directorship or being involved in the management of any PLC and/or its subsidiary for 5 years from the date of judgment; and

    • The defendants or their agents are restrained from trading on the stock exchange for 5 years from the date of judgment.

    2.

    Insider trading in the
    shares of HPI Resources
    Bhd

    Toh Kai Fatt (Toh KF)

    On 13 September 2021, the SC filed a civil suit against Toh KF.

    The SC sought, among others:

    • Toh KF pays to the SC, the disgorged profit amounting to RM2,363,122.50;

    • Toh KF pays to the SC, a civil penalty of RM1,000,000;

    • Toh KF to be removed from holding a directorship and/or being involved in the management of any PLC in Malaysia;

    • Toh KF is barred from holding a directorship or being involved in the management of any PLC and/or its subsidiary for 5 years from the date of judgment; and

    • Toh KF or his agents is restrained from trading on the stock exchange for 5 years from the date of judgment.

  • Regulatory Settlements

    No.

    Breach

    Defendant(s)

    Outcome

    1. Insider trading in the shares of Globetronics Technology Bhd

     

     

     

    Wong Seng Tong (Wong
    ST)
    On 21 July 2021, Wong ST entered into a settlement with the SC in the sum of RM413,469.53.
    2.

    Oh Kok Boon (Oh KB)

    On 21 July 2021, Oh KB entered into a settlement with the SC in the sum of RM354,358.62.

    3.

    Yeat Siaw Ping (Yeat SP)

    On 26 July 2021, Yeat SP entered into a settlement with the SC in the sum of RM265,845.68.

    4.

    Jasmine Chin Yong Shya
    (Jasmine Chin)

    On 16 September 2021, Jasmine Chin entered into a settlement with the SC in the sum of RM45,976.18.

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about the SC
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