IPOH — The Securities Commission Malaysia (SC) yesterday charged a former unit trust and Private Retirement Scheme (PRS) consultant with two offences involving unlicensed capital market activities at the Ipoh Magistrate’s Court.
Henry Tan Soong Yan, 35, faced one charge under Section 58(1) of the Capital Markets and Services Act 2007 (CMSA) for holding himself out as carrying on the business of dealing in securities without a licence.
He was also charged under Section 59(1) of the CMSA for holding himself out as a representative of Public Bank Bhd in dealing in securities without a licence.
The offence under Section 59(1) allegedly took place between January and September 2021, while the offence under Section 58(1) allegedly occurred in February 2022. Both offences were allegedly committed in Ipoh, Perak.
Henry pleaded not guilty to both charges before Magistrate Norizan Riduan and was granted bail of RM10,000 with one surety for each charge.
The court also ordered him to surrender his passport and report to the SC investigating officer once every two months pending the disposal of the cases.
The court fixed Dec 16 for mention.
The SC was represented by prosecuting officers Keith Loo and Siti Sarah Kamaruzaman, while Henry was represented by Dexter Mah of Messrs KS Su & Mah.
The SC said dealing in securities was a regulated activity and anyone carrying it out must be licensed by the commission.
It also reminded investors to exercise caution before parting with their money and when considering investment opportunities.
The public can use the SC’s Investment Checker to verify whether an individual or entity is authorised to offer, promote or sell capital market products and services in Malaysia.
