PETALING JAYA: The Kuala Lumpur High Court has dismissed the appeals by Su Eng Kooi and Yap Choong Seong (Appellants) of Jalatama Management Sdn Bhd against their respective conviction and sentence by the Sessions Court in 2022 for the offence of trading in futures contracts and dealing in derivatives without a Capital Markets Services license.Â
The Appellants were officers of Jalatama at the material time, a release from Securities Commission Malaysia (SC) noted.Â
Both were found guilty and convicted by the Sessions Court on Dec 12, 2022.Â
They were sentenced to one-year imprisonment and a fine of RM1mil (with a further one-year imprisonment term in default) respectively.Â
Dealing in derivatives is a regulated activity and any person carrying on a business in regulated activities requires a license from the SC under the Capital Markets and Services Act 2007.
