KUALA LUMPUR, Nov 27 (Bernama) -- The Federation of Investment Managers Malaysia (FIMM) has reprimanded three former unit trust scheme (UTS) and/or private retirement scheme (PRS) consultants for their misconduct/breaches of FIMM’s consolidated rules.
In a statement, FIMM said the consultants were Noormariyatul Asyeela Mohamad Ali, Choo Wei Jer and Lai Zheng Lit.
"These public reprimands are imposed to send a strong message that FIMM will take action against those who fail to comply with any rules issued by FIMM.
"This is to deter UTS and/or PRS consultants from committing any misconduct and to remind them that it is crucial to observe FIMM’s Rules when marketing and distributing UTS and/or PRS in Malaysia to protect the interests of the investing public," it said today.
Noormariyatul Asyeela -- who was at the material time a UTS and PRS consultant of Kenanga Investors Bhd -- was reprimanded due to misconduct of acceptance of cash, misappropriation of funds, falsification of investment statement and forging of the investor’s signature.
Choo, a UTS consultant of Phillip Mutual Bhd (PLM) was reprimanded due to making arrangements with another consultant and fit and proper; while Lai, PLM's UTS and PRS consultant due to unauthorised transactions, making arrangements with another consultant, and fit and proper.
-- BERNAMA
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