Regulation

ENFORCEMENT

Bursa Malaysia refers potential and significant contraventions of the CMSA to the SC.

Enforcement of Bursa Malaysia's Business Rules and Listing Requirements are carried out in a fair and consistent manner. During the year, we strengthened our guidelines, improved our processes to ensure expeditious actions and placed greater emphasis on directors' enforcement which resulted in more enforcement actions being taken against directors as compared to listed companies.

Sanctions were imposed for various breaches of the LR against listed issuers, and their directors as shown in the table below. The total number of sanctions was 160 in 2008 and included reprimand and fines amounting to RM1.3 million.

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Enforcement actions were also instituted against Participants and registered persons for violation of our Business Rules. In 2008, a total of 127 enforcement actions were initiated and completed, with priority given to market offences. These actions encompass caution, reprimand, fines and suspension as presented in the table below and resulted in imposition of fines amounting to RM610,000.

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Through these disciplinary enforcement actions, we hope to deter future breaches, educate the market participants, promote a compliant culture and enhance CG practices. All fines collected are segregated and utilised to educate and train Participants, listed companies as well as investors and defray legal or court expenses related to enforcement actions.

UTILISATION OF FINES INCOME AND TRANSFER FEES

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