{
  "id": 12775703,
  "title": "'Corporate mafia': SC enforcement strictly guided by law, Dewan Rakyat told",
  "url": "https://urgent.news/2026/10/08/corporate-mafia-sc-enforcement-strictly-guided-by-law-dewan-rakyat",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T03:28:14.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/news/nation/2026/10/1550323/corporate-mafia-sc-enforcement-strictly-guided-law-dewan-rakyat-told"
  },
  "original_language": "en",
  "account": "The Securities Commission Malaysia (SC) carries out enforcement actions within its legal boundaries, according to the Dewan Rakyat. Finance Minister II Datuk Seri Amir Hamzah Azizan stated that the SC has a clear mandate to regulate the capital market and protect investors, with enforcement actions determined by the nature and severity of the violations. The SC uses criminal, civil, or administrative actions, based on the gravity of the offense, to penalize offenders, recover investors' money, and maintain investor confidence. In 2025, the SC secured nine criminal convictions, with court-imposed fines totaling RM13.1 million. Civil enforcement actions resulted in RM20.1 million in unlawful gains recovered and civil penalties, while regulatory settlements brought in another RM9.08 million. Additionally, RM1.98 million was returned to 239 investors, and RM8.6 million allocated for restitution involving 933 investors. The SC pursued civil action against individuals involved in securities fraud, with one case resulting in RM100.6 million paid by defendants, excluding civil penalties of RM350,000 to RM1 million. Another case saw Ang Beng Cheang ordered to pay RM2.04 million. These examples demonstrate the SC's effectiveness in safeguarding investors' rights and taking appropriate action based on existing laws. Despite questions about the SC's jurisdiction, Hamzah clarified that every regulator has its own mandate; when investigations involve multiple mandates, agencies cooperate to determine jurisdiction and act per the law. Coordination between regulators is crucial to protect investors and preserve Malaysia's capital market integrity.",
  "summary": "KUALA LUMPUR: The Securities Commission Malaysia (SC) carries out enforcement action within its legal powers, the Dewan Rakyat was told today amid concerns over alleged practices resembling a ‘corporate mafia’.",
  "key_points": [
    "SC enforces within legal boundaries, guided by law",
    "2025 saw nine criminal convictions, RM13.1M in fines",
    "Civil actions recovered RM29.28M in unlawful gains"
  ],
  "editors_take": "The clarification on the Securities Commission's enforcement actions within legal boundaries aims to reassure lawmakers and investors that regulatory efforts are guided by existing laws to safeguard market integrity.",
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Bernama",
        "title": "General : Medical Officers, AUKU Replacement Bill Among Dewan Rakyat Focus Today",
        "url": "https://urgent.news/2026/10/07/general-medical-officers-auku-replacement-bill-among-dewan-rakyat",
        "published": "2026-10-07T22:18:39.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Medical officers, Auku replacement Bill among Dewan Rakyat focus today",
        "url": "https://urgent.news/2026/10/08/medical-officers-auku-replacement-bill-among-dewan-rakyat-focus-today",
        "published": "2026-10-08T00:10:10.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "Medical officers’ absence in Sabah, Sarawak and AUKU replacement Bill top Dewan Rakyat agenda today",
        "url": "https://urgent.news/2026/10/08/medical-officers-absence-in-sabah-sarawak-and-auku-replacement-bill",
        "published": "2026-10-08T01:54:16.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}