Securities Commission’s turn to look into MACC chief’s admission of proxy stock tradi

[superadmin]

KUALA LUMPUR, Jan 6 — An Opposition MP today called on the Securities Commission (SC) to conduct a full probe on Malaysia Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki for a possible violation of stock trading laws.

This after Azam ended his silence after being embroiled in controversy over his acquisition of millions of shares in two public-listed companies in 2015. In a news conference yesterday, he said he had allowed his brother to use his share trading account to buy those shares.

Kepong MP Lim Lip Eng said Azam’s disclosure only raises further questions and cited Section 25 (6) of Securities Industry (Central Depositories) Act, known as SICDA for short.

“The SC has the duty to state if Azam Baki has breached any securities law,” Lim said in a statement.

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