Ipoh:A former unit trust and Private Retirement Scheme (PRS) consultant has been charged with unlicensed capital market activities at the Ipoh Magistrate's Court.

According to BERNAMA News Agency, Henry Tan Soong Yan, 35, faces charges under the Capital Market and Services Act 2007 (CMSA). He is accused of carrying on a business of dealing in securities without a licence, violating section 58(1) of the CMSA, and misrepresenting himself as a representative of Public Bank Berhad without a licence, violating section 59(1).

The offence related to section 59(1) reportedly occurred between January and September 2021, while the offence under section 58(1) took place in February 2022, both in Ipoh. Tan pleaded not guilty to both charges and was granted bail of RM10,000 with one surety for each charge.

The court imposed additional bail conditions, requiring Tan to surrender his passport and report to the Securities Commission's Investigating Officer every two months until the cases are resolved. The case is scheduled for mention on December 16, 2026.

Prosecuting officers Keith Loo and Siti Sarah Kamaruzaman represented the Securities Commission, while Dexter Mah from Messrs. KS Su and Mah appeared for Tan. The Securities Commission emphasized that dealing in securities is a regulated activity and urged investors to be cautious with their investments. They also advised the public to use the SC's Investment Checker to verify the legitimacy of individuals or entities offering capital market products and services in Malaysia.