“The court ordered the defendants’ assets be traced and paid to the SC in order to compensate the EDI scheme investors. The court has also declared that RBTR, who was an SC-licensed fund manager, had breached its obligations and/or duties under the fund manager guidelines and failed to conduct due diligence to safeguard investor monies, ” the SC said.
PETALING JAYA: RBTR Asset Management Bhd and five others have been fined RM13.4mil in restitution for their role in the Euro Deposit Investment (EDI) scheme.
The Securities Commission (SC) said this was according to an order issued by the Kuala Lumpur High Court on March 30.
Date
05/04/2021
The Kuala Lumpur High Court had on 30 March 2021, ordered RBTR Asset Management Berhad and five other defendants to pay RM13.352 million in restitution for their role in the Euro Deposit Investment (EDI) scheme.
The Court ordered the defendants’ assets be traced and paid to the SC in order to compensate the EDI scheme investors. The Court has also declared that RBTR, who was an SC-licensed fund manager, had breached its obligations and/or duties under the fund manager guidelines and failed to conduct due diligence to safeguard investor monies.
The SC had on 2009 filed a civil suit against RBTR and five other defendants, namely:
iFast Capital opening doors for investors with Malaysia s first ever multi-asset digital investment platform
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Kuala Lumpur, 1 April 2021 – iFAST Capital Sdn. Bhd., a wholly-owned Malaysian subsidiary of iFAST Corporation Ltd is announcing the launch of its latest stocks and exchange-traded fund (ETF) brokerage services on FSMOne in Malaysia - an online wealth management platform providing the widest range of products available to aid investors in their investment goals.
In line with iFAST Capital’s commitment to provide the best of wealth management all under one platform, the new product launch will not only permit do-it-yourself (DIY) investors to acquire unit trusts, direct bonds, managed portfolios and insurance, but to also gain convenient access to Stocks and ETFs listed on Bursa Malaysia.