SC unable to conclusively establish SICDA breach in Azam Baki case

The Securities Commission Malaysia (SC) has concluded its enquiry into the shareholding case of MACC chief Azam Baki and is unable to conclusively establish that a breach under section 25(4) of the Securities Industry (Central Depositories) Act 1991 (SICDA) has occurred.

"At the outset, the SC wishes to state that as a capital market regulator, the SC’s regulatory remit is set out under the Securities Commission Malaysia Act 1993 (SCA), Capital Markets and Services Act 2007 (CMSA), and SICDA.

"In this regard...