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Enforcement

We take a very strict view of breaches to our Business Rules and Listing Requirements and undertake enforcement proceedings and actions according to the severity of the breach as these infractions have the potential to undermine investors' rights and protection.

Breaches relating to Contract Amendments

Enforcement News

Bursa Malaysia Rules Enforcement News: Breaches relating to Contract Amendments

POs

From 2004-2010, Bursa has taken 21 enforcement actions with imposition of fines up to RM125,000 on POs for their lapses of supervision and monitoring on the contract amendments carried out by their Dealer’s Representatives (DRs) and for failing to ensure that their DRs complied with the contract amendment rules (CA Rules).

DRs

  1. Between 2004 and 2010, 152 enforcement actions have been taken against DRs with fines imposed on DRs ranging from RM1,000 to RM10,000 (upon taking into account the number of instances of non-permissible contract amendments) for carrying out non-permissible contract amendments.

  2. Other than the above instances of contract amendment breaches by DRs where fines were imposed, Bursa had also taken enforcement actions against DRs for cases involving contract amendments which had the connotation of market abuses including market manipulation, jobbing and intra-day short selling activities. In such cases, more severe sanctions were imposed including striking off from the Register or suspension in addition to the imposition of fine.