PETALING JAYA: The Securities Commission (SC) mentioned it will be in contact with Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki and different events concerned for a proof over the problem of him buying shares in two firms in 2015.
In a press release, SC mentioned below part 25 of the Securities Industry (Central Depositories) Act 1991(SICDA), each securities account opened with a central depository have to be within the title of the helpful proprietor of the deposited securities or within the title of an authorised nominee.
In addition, part 29A of SICDA stipulates that every one dealings in securities shall be effected solely by the helpful proprietor of the securities or an authorised nominee.
“The SC will be in touch with the parties involved, including Azam Baki, for an explanation and to verify statements made, as well as gather any relevant evidence,” it mentioned.
Allegations not too long ago surfaced that Azam owned a considerable variety of shares in two firms between 2015 and 2016 when he was the MACC director of investigations.
On Wednesday (Jan 5), Azam mentioned he had given permission to his youthful brother to use his buying and selling account to purchase the shares.
Azam mentioned though he needn’t have declared the shares buying and selling because it was not carried out by him, he had knowledgeable his superiors.