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Regulatory enforcement is key to rebuilding trust in market

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SEVERAL years ago, a few Malaysian directors were in town for a conference. As I was driving them to dinner, one of the directors said he had been reprimanded by Bursa Malaysia for breaches of listing rules. Rather coincidentally, that director's phone rang. The call was from his company secretary telling him that the Companies Commission of Malaysia (CCM) required him to go to its office for a meeting about the company for which he had been reprimanded. He complained about being called up by the CCM since he had already been reprimanded by the stock exchange.

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