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Bursa Malaysia reprimands, fines and strikes dealer rep off register for abusing clients' accounts


KUALA LUMPUR (March 4): Bursa Malaysia Securities Bhd (Bursa Malaysia) has publicly reprimanded Mohd Ikmal Zulkifli and ordered him to be struck off its register for carrying out trades in the accounts of two clients without their permission.
Ikmal, who was attached to RHB Investment Bank Bhd’s Pandan Indah branch office here at the time of committing the offence, was also fined RM28,500.
In a statement today, the local bourse operator said Ikmal had misused Client A’s account to carry out his own trading activities of share speculation on numerous trading days.
Over a period of two months, he misused Client B’s account to carry out trades based on his own discretion without Client B’s knowledge and consent; the shares were then force sold. ....

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