Right to Lodge Complaints

Malaysian laws provide several avenues for an investor to voice his grievances. In the first instance, investors are encouraged to settle their grievances amicably with the party in dispute. However, in the event an amicable agreement cannot be reached, they can bring the matter up with the relevant authorities for further action.

As an investor/shareholder, a person’s rights are embedded in several statutes, rules or regulations

depending on the offence committed which can largely be categorised as securities law offences, and non-securities law offences.

Securities Law Offences

The following Acts of Parliament governed the securities and futures industry in Malaysia:

Securities Industry Act 1983 (SIA)
Securities Industry (Central Depositories) Act 1991 (SICDA)
Securities Commission Act 1993 (SCA)
Futures Industry Act 1993 (FIA)
Companies Act 1965 (CA)

The SCA establishes the SC as the regulator on all matters relating to the securities and futures contracts industries.

KLSE
The KLSE is responsible for enforcing its business rules and regulations on its members and the listing requirements which spell out the criteria for listing, disclosure requirements, and standards to be maintained by companies listed on the Main Board, Second Board, and the Mesdaq Market.

Investors who are unable to solve their problems with stockbroking companies can bring their complaints to the KLSE. Examples of such complaints are:

  • fraudulent misuse of money or other property by a director, officer, employee or representative of a licensed stockbroking company
  • defalcation by a stockbroking company
  • insolvency of a stockbroking company
  • when there has been improper conduct of trading practices by a stockbroking company.

If investors have complaints against a PLC such as:

  • misleading/inaccurate/insufficient disclosure of information
  • failure to disclose material information in financial statements or annual reports
  • actions/lack of actions detrimental to the interest of shareholders
  • against the directors/management/share registrars of the PLC

they can also bring their complaints to the KLSE. Address them to:

Group Communications Division
Kuala Lumpur Stock Exchange
Exchange Square, Bukit Kewangan
50200 Kuala Lumpur
Tel : (603) 2026 7099
Fax : (603) 2026 3700
E-mail : commsdept@klse.com.my
 
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