BURSA MALAYSIA
Company Announcements
Guided Tour
EN
BURSA MALAYSIA
EN
  • Market Information
      • Equities Prices
      • Indices
      • Bonds Prices
      • Derivatives Prices
      • Shariah Compliant Equities Prices
      • Market Statistics
      • Securities
      • Bonds
      • Derivatives
      • Market Data
      • Information Services License
      • Website Linking Service
      • Historical Data Packages
      • Information Vendors
      • Announcements
      • Company Announcements
      • Structured Warrants
      • Entitlement by Ex-Date
      • SPEEDS
  • Trade
      • Market
      • Securities Market
      • Derivatives Market
      • Islamic Markets
      • Labuan International Financial Exchange (LFX)
      • Our Product & Services
      • Equities
      • Bonds
      • Derivatives
      • Islamic Markets
      • Indices
      • Labuan International Financial Exchange (LFX)
      • Co-Location Service
      • BTS2 On-Boarding
      • Network Access and Infrastructure Services (NAIS)
      • Central Depository System (CDS)
      • Trading Resources
      • Listing Directory
      • Equities
      • Brokers for Equities
      • Non Broker Participants
      • Bonds
      • Brokers for Bonds
      • Derivatives
      • Brokers for Derivatives
      • Islamic Markets
      • Post Trade
      • Securities Borrowing & Lending (SBL)
      • Islamic Securities Selling & Buying Negotiated Transaction (ISSBNT)
      • Securities Clearing & Settlement
      • Derivatives Clearing & Settlement
      • Transaction Costs, Fees and Charges
      • Risk & Compliance
      • Overview
      • Risk & Compliance Framework
      • BMSC and BMDC as Central Counterparty (CCP)
      • PFMI Disclosure
      • SST
  • Listing
      • Why Bursa Malaysia
      • Your Listing Destination
      • Get Listed
      • Listing Criteria
      • Listing Process
      • Cost of Listing
      • Fees and Charges
      • Issuer Services
      • Advisers / Sponsors
      • Supporting Partners
      • Listing Resources
      • IPO
      • IPO Prospectus
      • LFX Prospectus
      • Corporate Governance and Sustainability
      • Labuan International Financial Exchange (LFX)
      • Market Participants
      • Listing Sponsors List
      • Issuers
      • Financial Instruments
      • Fees
      • Business Process
  • Regulation
      • Overview
      • Structure
      • Overview
      • Regulatory Committees
      • Regulatory Oversight Body
      • Overview of Rules
      • Rules Making Process
      • About Bursa Malaysia Regulatory
      • Regulatory Approach/Philosophy
      • Supervision of Issuers
      • Supervision of Brokers
      • Enforcement
      • Market Surveillance
      • Listing Requirements
      • Main Market
      • ACE Market
      • LEAP Market
      • FAQs
      • Securities
      • Rules of Bursa Malaysia Securities
      • Rules of Bursa Malaysia Securities Clearing
      • Rules of Bursa Malaysia Depository
      • Derivatives
      • Rules of Bursa Malaysia Derivatives
      • Rules of Bursa Malaysia Derivatives Clearing
      • Bonds
      • Rules of Bursa Malaysia Bonds
      • Islamic
      • Rules of Bursa Suq Al-Sila' (BSAS)
      • Best Practices for Islamic Stockbroking Services
      • Labuan International Financial Exchange (LFX)
      • Rules of LFX
      • Directives / Circulars
      • FAQs Relating to Bursa Malaysia Rules
      • Public Consultation
      • Communication Notes/Guides
      • [email protected]
      • Bursa Link
  • Reference
      • Research Repository
      • Overview
      • CMDF - Bursa Research Scheme (CBRS)
      • Non - CBRS Research Reports
      • Research Reports
      • Insights
      • Derivatives
      • Institutional Insights
      • Regulatory Insights
      • Bursa Academy
      • [email protected]
      • Market Terminologies
      • FAQs
      • Securities
      • Derivatives
      • Islamic Markets
      • Labuan International Financial Exchange (LFX)
      • LEAP
      • Central Depository System (CDS)
  • About Bursa
      • About Us
      • Overview
      • Who We Are
      • Our Organisation
      • Corporate Governance
      • Board of Directors
      • Top Management Team
      • Other Corporate Information
      • Corporate History
      • Awards and Certification
      • Calendar
      • Tenders
      • Related Links
      • Investor Relations
      • IR Home
      • Financial Information
      • Stock Information
      • Shareholdings
      • Information for Shareholders
      • Information Request
      • Other Information
      • Sustainability
      • Overview
      • Governance of Sustainability
      • Assessment of Material Matters
      • Engaging our Stakeholders
      • Our Contribution to Sustainable Development Goals
      • Sustainability Reports
      • Others
      • Risk & Compliance
      • Overview
      • Framework & Governance
      • Enterprise Risk Management
      • Compliance Management
      • Business Continuity Management
      • Media Centre
      • Speeches
      • Gallery
      • Media Releases
      • Articles
      • Careers
Company Announcements
Guided Tour
English
Bahasa Malaysia
简体中文
[email protected]

You will be-redirected to [email protected], are you sure you want to leave this page?

Leave this page
Help Centre

You will be-redirected to Help Desk, are you sure you want to leave this page?

Leave this page
Bursa Link

You will be-redirected to Bursa Link, are you sure you want to leave this page?

Leave this page
Bursa Marketplace

You will be-redirected to Bursa Marketplace, are you sure you want to leave this page?

Leave this page
LFX Listing Sponsor

You will be-redirected to LFX Listing Sponsor, are you sure you want to leave this page?

Leave this page
Corporate Governance and Sustainability

You will be-redirected to BursaSustain website, are you sure you want to leave this page?

Leave this page
Corporate Governance and Sustainability

You will be-redirected to BursaSustain website, are you sure you want to leave this page?

Leave this page
Bursa Academy

Bursa Academy

Leave this page

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 as well as market integrity.
  • Supervision of Issuers
  • Regulatory Approach/Philosophy
  • Supervision of Brokers
  • Enforcement
  • Market Surveillance
Menu expand
  • Overview
  • Enforcement Approach
  • Enforcement Statistics
  • Key Enforcement Cases
    • Enforcement of Listing Requirements
    • Enforcement of Bursa Malaysia Rules
      • Overview
      • Breaches Relating to Contract Amendments
      • Market Offences/Market Manipulation/Misconduct
      • Actions against POs for Supervisory Failures and/or Ineffective Compliance Function
      • Actions against POs/TPs for Failures to Comply with Financial Requirements
      • Other Breaches
  1. Home
  2. Regulation
  3. About Bursa Malaysia Regulatory
  4. Enforcement
  5. Enforcement Statistics

Enforcement Statistics


As enunciated under our Overview of Enforcement, we seek to deter future breaches, educate market participants, promote a better culture of compliance and standards of business conduct and corporate governance practices through our enforcement actions.

To this end, we have taken various types of enforcement actions for breaches of our rules over the years.

In 2019, enforcement actions were taken against 17 Public Listed Companies (“PLCs”) and 25 directors (of 6 PLCs) for various breaches of the Listing Requirements as compared to 15 PLCs and 22 directors (of 5 PLCs) and 1 other person in 2018.

The enforcement actions taken against these parties ranged from private reprimand to public reprimand coupled with fines and/or directives. Details of the enforcement actions (reprimand and above) completed/taken in 2019 and comparison with 2018 are set out below:-

Sanctions Imposed# PLCs Directors^
2018 2019 2018 2019
Public Reprimand and Fine - - 19 23
Public Reprimand 10 6 4 3
Private Reprimand 5 11 - -
Total no. of PLCs/Directors/Other Person# 15 17 23 25
Total Fines Imposed (RM) - - 4,910,4000 8,655,800

# more than one sanction/type of sanction may have been imposed on a director, PLC or any other persons subject to the Listing Requirements.
^ includes any other person subject to the Listing Requirements.

In addition to the sanctions imposed above, we also issued directives for PLCs to conduct limited review on quarterly reports as well as for directors/relevant personnel of the PLCs to attend training programs in relation to financial reporting and compliance with the Listing Requirements as follows:

  2018 2019
Limited Review on Quarterly Reports 8 8
Director's Training 11 10

We generally take enforcement actions for breaches pertaining to:-

  • financial reporting (i.e. timely submission as well as accurate reporting of financial statements);
  • delay in making material announcement (e.g. material default of credit facilities, material litigation, inaccurate responses to Unusual Market Activity queries as well as announcement of triggering classification as a company with inadequate financial condition/financially distressed company);
  • failure to comply with corporate governance requirements (e.g. failure to establish an internal audit function), foreign listing requirements, Bursa Malaysia Securities Berhad’s directives; and
  • related party transaction requirements.

We view financial reporting breaches (i.e. timely submission as well as accurate reporting of financial statements) strictly as the requirement for companies to submit timely and accurate financial statements is of paramount importance to aid investment decisions and ensure a fair and orderly market for securities that are traded on Bursa Malaysia. However, we note that there has been significant improvement in compliance by PLCs in ensuring timely and accurate reporting of financial information as evident from the reduction of breaches in this area by more than 50% since 2008 (the year where we commenced stricter director enforcement action).

As for violations of our Business Rules, enforcement actions were instituted against companies (i.e. Participating Organisations, Trading Participants etc.) and their Registered Persons or individuals who are subject to the Business Rules and the key enforcement actions were for supervisory breaches and market/trading misconduct by Registered Persons.

Details of the enforcement actions (reprimand and above) taken for breaches of the Business Rules in 2019 compared to 2018 are as follows:-

Type of Action Taken# No. of Companies No. of Registered Persons / Individuals* Total
2018 2019 2018 2019 2018 2019
Private Reprimand and/or Directive 1 3 - - 1 3
Private Reprimand, Fine/ Deferred Fine, Suspension and/or Mandatory Training - - - 2 - 2
Public Reprimand, Fine/ Deferred Fine, Suspension/ Suspension/ Striking Off and/or Mandatory Training - - 7 2 7 2
Total 1 3 7 4 8 7
Total Fines Imposed (RM) - - 312,100 127,700 312,100 127,700

# more than one sanction may have been imposed on a company or Registered Person/individual.
* includes individuals who are subject to the Business Rules e.g. a Local Participant under the Rules of Bursa Malaysia Derivatives Bhd.

In 2019, the enforcement actions were taken against 2 companies (as compared to 1 in 2018) and 4 Registered Persons (as compared to 7 in 2018) for various breaches of the Business Rules.

The enforcement actions taken in 2019 included reprimands (both public and private), suspension, requirement to attend training and fines amounting to RM127,700 (as compared to RM312,100 in 2018). In 2019, the key enforcement actions were for market offences involving manipulative/false trading activities and non-market offences involving a Local Participant (who is not allowed to trade in contracts for others) who had traded in contracts for third parties and engaged in a profit-sharing agreement with a third party.

As part of our effort to educate market participants, inform the market of the range of actions taken, instil market confidence and ensure transparency in our enforcement actions, information on common breaches of our Rules are posted on our website. Where the sanctions imposed include a public reprimand, a media release (together with the basis for the findings of the breach) is also issued.


2019

Enforcement Statistics 2019

2018

Enforcement Statistics 2018

2017

Enforcement Statistics 2017

2016

Enforcement Statistics 2016

2015

Enforcement Statistics 2015

About Bursa Market Information Trade Listing Regulation Reference
Bursa Marketplace Bursa Link LFX [email protected] Bursa SUSTAIN Bursa Academy
Terms & Conditions of Use, Disclaimer and Linking Policy Personal Data Notice Sitemap Website FAQs
Contact Us Help Centre
RSS Feeds

Subscribe to our RSS feeds and get the latest Bursa Malaysia news delivered directly to your desktop. Click on the orange RSS button to go to the Subscribe page.

You will need to install the RSS plugin to subscribe to the RSS Feeds.

Subscribe
Media Releases Subscribe
Investor Relations
  • Newsroom
Subscribe
Bursa Malaysia Listing Requirements
  • Main Market
  • ACE Market
Subscribe
Initial Public Offering Subscribe
Copyright © 2021 Bursa Malaysia Berhad 197601004668 (30632-P). All rights reserved.
Top