KUALA LUMPUR (July 7): The Federation of Investment Managers Malaysia (FIMM) has reprimanded four former unit trust scheme (UTS) and private retirement scheme (PRS) consultants for providing false information relating to their academic qualifications when registering with the federation.
They are Teoh Chuan Leong (ex-consultant for Public Mutual Bhd), Tang Meng Kuen (Kenanga Investors Bhd and CIMB Bank Bhd), Sendiring Dihing (Public Mutual) and Norsidah Tambi (Kenanga Investors), FIMM said in a statement today.
It said that having considered the mitigating and aggravating factors, Tang and Sendiring have been barred from registering with FIMM for a period of one year, while Teoh and Norsidah are permanently barred from future registration.
The public reprimand is imposed to send a strong message that FIMM will take action against those who fail to comply with any rules it issues, the statement said.
“This is to deter UTS and PRS consultants from committing any misconduct and reminding them that it is crucial to observe FIMM’s rules when marketing and distributing UTS and PRS in Malaysia to protect the interest of the investing public,” it added.
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