ANNOUNCEMENT
Kuala Lumpur, 25 July 2018
For immediate release.
PUBLIC REPRIMAND AGAINST MOHAMAD RAHMAD BIN SHAHERI (FIMM No: 031-0-28629)
The Federation of Investment Managers Malaysia (FIMM) has reprimanded Mohamad Rahmad bin Shaheri (Rahmad), a former unit trust consultant of CIMB-Principal Asset Management Berhad (CPAM) on 26 June 2018.
Rahmad was found to be in breach of Clause 3.1.3(a) of FIMM’s Code of Ethics and Rules of Professional Conduct (Unit Trust Funds), Second Edition dated 22 January 2013 (FIMM’s Code) for facilitating the submission of investment transaction form to CPAM on behalf of his client and the withdrawal of the Employees Provident Fund Account 1 of the client for purposes of the said investment, all of which was done through another unit trust consultant and without the authorisation of his client.
Rahmad was found to be in breach of Clause 3.1.11(g) of FIMM’s Code for allowing his client to pre-sign and/or pre-thumbprint on the forms related to the client’s investment.
Rahmad was also found to be in breach of Clause 3.1.15 of FIMM’s Code for disclosing his client’s personal and financial information to other unit trust consultants by allowing them to submit unit trust investment forms on behalf of his client for various transactions.
In view of the above and the fact that Rahmad is currently not a Registered Person with FIMM, he is barred from future registration with FIMM as a unit trust consultant.
About Federation of Investment Managers Malaysia
The Federation of Investment Managers Malaysia (FIMM) was established in 1993 to support the development of the investment management industry. On 20 January 2011, FIMM was recognised as a Self-Regulatory Organisation (SRO) by Securities Commission Malaysia. As an SRO, FIMM regulates and supervises its members and registered persons to strive for the highest level of integrity and standards of practice that will best serve the investment management industry and promote investor protection.
For more information about this press release, please contact:
Ms. Chong Chyi Ming / Mr. Iswaran
Corporate Communication, FIMM
Tel: +(60)3 – 2093 2600
Email: chyiming@fimm.com.my / iswaran@fimm.com.my