PETALING JAYA: The Securities Commission (SC) charged today a former director of business management consultancy Kyaputen Sdn Bhd for committing three offences of unlicensed capital market activities.
In a statement today, the SC said Fadzli Jamaludin, 33, was charged at the Kuala Lumpur sessions court for holding himself out as carrying on a business in fund management without a license.
The regulator stated this is an offence under the Capital Markets and Services Act 2007 (CMSA) which carries a maximum fine of RM10 million or imprisonment for a term not exceeding 10 years, or both.
It added that fund management is a regulated activity as set out in Schedule 2 of the CMSA, and any person carrying out this activity is required to be licensed.
The alleged offences took place between November 2018 and April 2020 in Kuala Lumpur and Melaka. Fadzli claimed trial to all three charges.
Sessions court judge Sabariah Othman granted bail at RM80,000 with one surety for all three charges.
He was also ordered to surrender his passport to the court and report to the SC on a monthly basis until the completion of the trial.
Meanwhile, the SC advised investors to be cautious when considering investment opportunities.
“The SC’s Investor Alert List is constantly updated to help the public identify unauthorised or unlicensed platforms, companies or individuals,” it added.