"Jail sentence and fine against insider dealer restored after final appeal".
Interesting is the last paragraph:
"The Hon Mr Justice Ribeiro of the CFA agreed with the Court of First Instance that, save for exceptional circumstances, the appropriate sentence for insider dealing should be immediate imprisonment coupled with a fine which, at the very least, removes a defendant’s unjust profits".
I haven't noticed a single jail sentence in Malaysia, while insider trading appears to happen frequently. A few fines without admission of guilt is all that the enforcement has to show for.
Bursa Malaysia should hugely step up its efforts on insider trading, without fear or favour, to restore confidence with retail investors, and aim for jail sentences as serious deterrent.
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