Edited by: Sheera Abg Mansor
KUALA LUMPUR: Corporate executives and directors embroiled in insider trading are pushed to leave their posts and not given second chance in order for public confidence to return.
The economists, as quoted in New Straits Times said retaining them would only erode the confidence of the public and investors,
A recent case involved AirAsia Group Bhd executive chairman Datuk Kamarudin Meranun, who reached an out-of-court settlement with the Securities Commission (SC) over insider trading of Malaysia Airlines shares.
Quoting Asian Strategy and Leadership Institute Centre of Public Policy Studies chairman Tan Sri Ramon Navaratnam New Straits Times also says the corporate officers have to follow SC’s rules even with the governance of the new government as good governance and integrity should not be limited to the government but also adopted by the private sector.
He said, the directors must have high integrity and place the organisation’s objectives higher than their personal objectives.
While Prof Dr Hoo Ke Ping, Political and Economic analyst as quoted also in New Straits Times said, those charged with insider trading should be suspended.
Source: New Straits Times