Securities Commission: Resignation of MD, General Counsel was an earlier decision, unrelated to announced resignation of Executive Chairman

He said the post of if in supervising intermediaries and funds would be filled by Shamsul Bahriah, who is the current head of supervision of the institution and has served the SC for 19 years.

Meanwhile, the SC said it had confirmed the resignation of its chief executive Foo Lee Mei, who opted to terminate her contract earlier on April 6, 2022.

He said Foo would serve his notice until May 20, 2022.

Additionally, he said that the executive director of digital strategy and innovation, Chin Wei Min, tendered his resignation on April 28, 2022, and that he would serve his two-month notice.

The SC said it had already identified an internal candidate to replace Chin, subject to approval and formalization, and an announcement would be made in due course.

“The SC would also like to point out that contrary to recent media speculation, the resignation of its Managing Director and General Counsel is unrelated to the resignation announced yesterday of its Executive Chairman, Datuk Syed Zaid Jaffar Albar, and has been made before this one, which takes effect on May 31, 2022,” he said.

The Minister of Finance has appointed Datuk Awang Adek Hussin as the new executive chairman of the commission effective June 1, 2022 to May 31, 2025. — Bernama

Aurora J. William