.jpg "The Securities Commission warned firms against making claims about Covid-19 vaccine deals. — Picture by Yusof Mat Isa")
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KUALA LUMPUR, Mar 18 — The Securities Commission (SC) Malaysia reminded public-listed companies (PLCs), regulated entities and the media that dissemination of false or misleading material information is a serious breach under the securities law.
The commission’s executive chairman, Datuk Syed Zaid Albar, said those found guilty may face imprisonment not exceeding 10 years and a fine of not less than RM1 million.
“All listed entities, its directors, chief executive officers, must exercise care and diligence, when making any material announcements, and above all maintain accountability.
“If you look at our website, there are various actions taken on private-listed companies and directors for offences such as insufficient or inaccurate disclosures made by the PLCs,” Syed Zaid told reporters during a virtual press conference today.
Syed Zaid was responding to a question on whether the SC would take any action against PLCs that made misleading or false announcements on procurement or distribution of Covid-19 vaccines.
MORE TO COME