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The Malaysian Bar said the refusal of Attorney General’s Chambers to prosecute Serba Dinamik Holdings, which left the Securities Commission no recourse beyond issuing compound notices to the listed firm, was a “dangerous precedent” in the country
KUALA LUMPUR, May 6 — The Malaysian Bar said the refusal of Attorney General’s Chambers to prosecute Serba Dinamik Holdings, which left the Securities Commission no recourse beyond issuing compound notices to the listed firm, was a “dangerous precedent” in the country. In a statement today,...
WE should be concerned that in recent weeks, the work of two important institutions — the judiciary and the Securities Commission Malaysia (SC) — have come under pressure from people not happy with decisions they have made. Indeed, pressure may be too mild a word, as what has happened is akin to intimidation.
SC Chairman Syed Zaid Albar will step down on May 31, just months after his term was extended for another three years.
VERY rarely is there an exhibit of tension when regulators are going after alleged culprits.