The Securities Commission (SC) has revoked a remisier’s licence for engaging in “deceitful” or improper business practices involving RM2.5mil.
The commission said Jason Chan Yew Mun’s Capital Market Services Representative’s Licence (CMSRL) had been revoked effective from April 26, 2016.
His licence was revoked under Section 72 read together with Section 65 of the Capital Markets and Services Act 2007 (CMSA) when he was found to have engaged in business practices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 RM2.5mil from four of his clients, to be allocated into his wife’s trading and banking account,” the SC said in a statement on Wednesday.
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The commission said Jason Chan Yew Mun’s Capital Market Services Representative’s Licence (CMSRL) had been revoked effective from April 26, 2016.
His licence was revoked under Section 72 read together with Section 65 of the Capital Markets and Services Act 2007 (CMSA) when he was found to have engaged in business practices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 RM2.5mil from four of his clients, to be allocated into his wife’s trading and banking account,” the SC said in a statement on Wednesday.
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