Suruhanjaya Sekuriti Malaysia v Dato' Aminuddin Bin Md Desa

wa-22ncc-573-12-2021 High Court (Mahkamah Tinggi) 12 February 2024 • WA-22NCC-573-12/2021 • 71 min read

27 cases cited (2 SG, 25 foreign)

Catchwords

Securities Law - Insider Trading - Capital Markets and Services Act 2007 - Corporate insider - Breach of Section 188(2)(a) - Joint acquisition of shares while possessing inside information - Circumstantial evidence - CEO's liability - Timing of trades - Money trail - Telephone communications coinciding with trades - Close relationship between defendants - Pattern of suspicious acquisitions preceding announcement - Sharing of profits - Three times pecuniary relief - Civil penalty - Prohibitory orders - Adverse inference from election not to testify/call evidence - Corporate governance - Market integrity - Regulatory settlement's impact on co-conspirator

Judges (1)

Wan Muhammad Amin bin Wan Yahya Delivered

Parties (2)

Suruhanjaya Sekuriti Malaysia Plaintiff Dato' Aminuddin bin Md Desa Defendant

Statutes Cited

Evidence Act 1950 (Cap 56)

s 114(g)

Cases Cited (27)

SG (2)

[2011] SGCA 62 [2013] SGCA 27

UK (3)

[1996] 1 All ER 193 [2005] UKPC 40 [2009] 4 All ER 789

AU (5)

[2003] NSWSC 447 [2005] NSWSC 50 [2010] NSWSC 1422 [2011] NSWSC 643 [2012] NSWSC 1551

MY (16)

[1987] 1 MLJ 492 [1991] 1 MLJ 33 [1995] 2 MLJ 770 [1997] 3 MLJ 693 [1999] 6 CLJ 590 [2009] 10 CLJ 234 [2009] 4 MLJ 267 [2009] 6 MLJ 751 [2015] 1 MLJ 414 [2015] MLJU 2111 [2016] 7 CLJ 631 [2018] 9 MLJ 782 [2019] 5 MLJ 754 [2021] 11 MLJ 827 [2021] 7 CLJ 913 [2023] 10 MLJ 670

HK (1)

[2018] 1 HKC 24676

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-22ncc-573-12-2021)