Kuala lumpur: The Federation of Investment Managers Malaysia (FIMM) has issued a reprimand to a former Unit Trust Scheme (UTS) and Private Retirement Scheme (PRS) consultant, Muhamad Hismalehafis Abdullah, for breaching FIMM’s Consolidated Rules (FCR).

According to BERNAMA News Agency, Muhamad Hismalehafis Abdullah was found to have submitted a falsified academic certificate as part of his registration application as a UTS and PRS consultant to the distributor. The breaches pertained to Rules 4.1.1, 4.2.1, and 4.3.1(f) of the FCR. Muhamad Hismalehafis was associated with Manulife Investment Management (M) Bhd.

The disciplinary action taken by FIMM includes barring him from registration with FIMM for a fixed period and issuing a public reprimand in accordance with Rule 6.6.1(b)(ii) of the FCR. Additionally, he is barred from registration concerning both UTS and PRS for two years, effective October 2, 2025, as per Rule 6.6.1(b)(x) of the FCR.

FIMM stated that the decision by the disciplinary committee was made after considering various mitigating and aggravating factors relevant to the case. The public reprimand aims to convey a strong message that FIMM will take action against those who fail to adhere to its rules. It serves as a deterrent to UTS and PRS consultants from engaging in any misconduct and underscores the importance of complying with FIMM’s regulations when marketing and distributing UTS and PRS in Malaysia. This is crucial for protecting the interests of the investing public.