Friday 29 Mar 2024
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KUALA LUMPUR (March 30): CIMB Group Holdings Bhd said it has "zero tolerance" for law breaches involving its staff and that it would take action against employees' misconduct.

Financial services provider CIMB said the group is committed to upholding the law in all its business processes at all times.

"This is reflected in our internal policies which have been clearly communicated to all staff, who are continuously reminded on the importance of complying with the law in their respective markets," CIMB said.

CIMB said this in a statement today after the Securities Commission Malaysia (SC) charged three individuals yesterday for alleged insider trading offences involving PacificMas Bhd shares in 2007.

Yesterday, the SC said in a statement that Ewe Lay Peng, Lim Bun Hwa and Lim Boon Cheng claimed trial at the Kuala Lumpur Sessions Court. The SC said Lay Peng and Bun Hwa were senior managers in the corporate finance department of CIMB Investment Bank Bhd at that time.

Today, CIMB said: "CIMB has always cooperated fully with all our host regulators to ensure financial stability in the environment in which we conduct our business, and we will continue to extend our fullest cooperation to regulators on everything that they require from us."

"The CIMB boards and management are also continually reviewing and, where necessary, strengthening CIMB's internal controls to ensure that staff always uphold the highest standards of business conduct in adherence to the law," CIMB said.

 

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