CIMB has zero tolerance policy for breaches of law by staff
KUALA LUMPUR: CIMB Group Holdings Bhd has zero tolerance for breaches of the law by its staff.
It said appropriate action would be taken against staff found guilty of breaking the law in any market in which it operates.
“CIMB has always cooperated fully with all our host regulators to ensure financial stability in the environment in which we conduct our business.
“We will continue to extend our fullest cooperation to regulators on everything that they require from us,” the group said in a statement yesterday.
It said the board and management were continually reviewing, and where necessary, strengthening internal controls to ensure staff always uphold the highest standards of business conduct in adherence to the law.
CIMB’s statement was in reference to the charge by the Securities Commission (SC) towards three individuals for insider trading in PacificMas Bhd shares.
According to SC, Ewe Lay Peng was charged at the Kuala Lumpur Sessions Court with one count of communicating non-public information between Dec 10-31, 2007 to Lim Bun Hwa.
Ewe and Lim were both at the material time, Senior Managers in the Corporate Finance Department of CIMB Investment Bank Bhd.
Five charges were also preferred against Lim’s brother, Lim Boon Cheng for acquiring 145,000 units of PacificMas shares between Dec 18-31, 2007, while in possession of material non-public information.
He was charged with abetting Lim in committing the alleged offence. — Bernama
CIMB has always cooperated fully with all our host regulators to ensure financial stability in the environment in which we conduct our business. CIMB