KUALA LUMPUR (Nov 3): The Federation of Investment Managers Malaysia (FIMM) has reprimanded one former unit trust scheme (UTS) and private retirement scheme (PRS) consultant for his misconduct/breaches of the FIMM’s consolidated rules (FCR).
In a statement on Monday, the FIMM said a former UTS and PRS consultant, Muhamad Hismalehafis Abdullah, was found to be in breach of Rules 4.1.1, 4.2.1 and 4.3.1(f) of the FCR for submitting a falsified academic certificate as part of his application for registration as a UTS and PRS consultant to the distributor.
Muhamad Hismalehafis is a UTS and PRS consultant of Manulife Investment Management (M) Bhd.
“He has been barred from registration with the FIMM for a fixed period, with public reprimand pursuant to Rule 6.6.1(b)(ii) of the FCR, and barred from registration with the FIMM in respect of both UTS and PRS for two years effective Oct 2, 2025 pursuant to Rule 6.6.1(b)(x) of the FCR,” it said in a statement on Monday.
The FIMM said the disciplinary committee’s decision was imposed after factoring in the various mitigating and aggravating factors applicable to the case.
“This public reprimand is imposed to send a strong message that the FIMM will take action against those who fail to comply with any rules issued by the FIMM.
“This is to deter UTS and/or PRS consultants from committing any misconduct and to remind them that it is crucial to observe the FIMM’s rules when marketing and distributing UTS and/or PRS in Malaysia to protect the interests of the investing public,” it added.