SIDC Module 19 Practice Questions - SC Licensing Examination Module 19 - Advisory Services Rules And Regulations (SIDC, Malaysia) Exam

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What is the statutory penalty under Section 58 of the Capital Markets and Services Act 2007 (CMSA) for an individual who carries out a regulated activity without holding a valid license or being registered?

A fine not exceeding RM100,000 or imprisonment for a term not exceeding 1 year, or both A fine not exceeding RM500,000 or imprisonment for a term not exceeding 5 years, or both A fine not exceeding RM10 million or imprisonment for a term not exceeding 10 years, or both A fine not exceeding RM20 million and mandatory whipping

Correct Answer:

A fine not exceeding RM10 million or imprisonment for a term not exceeding 10 years, or both

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