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RM2.2 mln fine on Deloitte PLT by SC is appropriate


24 Dec 2020 / 13:43 H.
KUALA LUMPUR: The decision by the Securities Commission (SC) to impose a fine of RM2.2 million on Deloitte PLT was appropriate and proportionate to the gravity and seriousness of the breaches committed by the auditing firm, said High Court Judge Datuk Seri Mariana Yahya.
In dismissing Deloitte’s application for a judicial review to challenge the ruling by the SC, she said, the court was of the view that the SC had not misdirected itself in law or failed to take into account relevant consideration in arriving at its decision.
“The respondent (SC) has applied the proper construction and interpretation of the relevant legislative provisions in light of duties and responsibilities of the respondent as a regulator of the capital markets. ....

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