Investors affected by unauthorised trades won't incur losses, says Bursa
Bursa Malaysia said the affected securities and proceeds, withheld since April 27 to facilitate its investigation, will be released following post-trade action on May 20.
PETALING JAYA : The issue involving unauthorised trades detected on April 24 has been resolved, says Bursa Malaysia.
In a statement today, the exchange said it has reached a consensus with the affected brokers, supported by counterparty brokers, to manage the unauthorised trades.
It said the affected investors have been assured that they will not suffer any losses from the incident.
'The key outcome results with the underlying principle that no investor with unauthorised trades shall incur losses arising from the incident.
'As stated previously, the unauthorised trades were limited to a small number of brokers' client online trading accounts,' it said.
Bursa said the affected securities and proceeds, withheld since April 27 to facilitate its investigation, will be released following post-trade action on May 20.
'In most cases, this process will result in the return of securities and proceeds to investors, effectively restoring their positions to pre-incident levels,' it said.
Bursa said a full investigation is still under way to determine the root cause, and reiterated its commitment to working closely with the industry to ensure investor protection and maintain market confidence.
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