THE Malaysian Anti-Corruption Commission (MACC) today confirmed that it has received a report from a civil society group on alleged graft concerning senior officials of the Securities Commission (SC).

It is reviewing the complaint before proceeding with the probe, said a source.

Rakyat Malaysia Prihatin (RMP) lodged the report on Sunday, alleging corruption and misconduct by SC top management, its board members and politicians.

The Malaysian Insight has contacted SC and is still awaiting its response.

An RMP representative said the group has referred three cases to MACC.

The first involves an SC top management member’s son, who holds the highest position in a company investigated by the SC; the second involves a conflict-of-interest issue; and, the third involves high-ranking officials who allegedly accepted bribes for turning a blind eye to probes into public companies that committed trading offenses.

The report comes after SC sought clarification from MACC chief commissioner Azam Baki regarding his ownership of shares in public-listed companies on January 6.

Azam said he did not commit any offence nor have any interest or shareholding in any company.

He told the MACC Anti-Corruption Advisory Board that his brother, Nasir, used his trading account to purchase the shares.

According to SC, section 25 of the Securities Industry (Central Depositories) Act 1991 states that every securities account opened with a central depository must be in the name of the depositor or an authorised nominee.

“MACC needs to review the complaint before any further investigation. It needs to ensure the complaint is valid,” the source told The Malaysian Insight.

“The proof provided by the group concerning the three accusations against SC must be verified before an investigation paper is opened. If it is proven that any wrongdoing occurred, an investigation will follow.” – January 11, 2022.