‘SINGLE COMMISSION’ FOR SECURITIES & COMPANIES?
His latest article, ‘Collaring white-collar criminals’ is a much safer subject for him to comment on as opposed to religious or racial
What I am trying to get at is that we are now in March 2010 and the proposed merger of the Securities & Companies Commissions has not happened. Don’t think it will!
And by the way, Guna was lamenting (again) about the ‘slap on the wrists’ for perpetrators convicted for white collar crime …. which includes criminal breach of trust. Based on recent Securities Commission convictions, these jokers plunder hundreds of millions of Ringgit from companies and yet, they mostly get fined between RM300,000 to RM500,000
Maybe Guna should instead consider giving credit to the Police’s Commercial Crimes Investigation Department, which is
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March 6, 2010, 10:52 pm
Filed under: Malaysia politics, Racial politics, Religion, Malaysia, Racial Issues, Global financial crisis, Coaching & Mentoring, Corporate Governance | Tags: Securities Commission, Companies Commission, bomb, General Elections, Abdullah Ahmad Badawi, Pak Lah, illicit sex, P. Gunasegaram, Persuasion Not Compulsion, The Star, Collaring white collar criminals, Commercial Crimes Division, Police, 8 March 2008, Nascom, jail term, rotan, Suhani Mat Daud, Dato' Koh Hong Sun, Zulkifli Amin Mamat, Hasbi Hasan
Filed under: Malaysia politics, Racial politics, Religion, Malaysia, Racial Issues, Global financial crisis, Coaching & Mentoring, Corporate Governance | Tags: Securities Commission, Companies Commission, bomb, General Elections, Abdullah Ahmad Badawi, Pak Lah, illicit sex, P. Gunasegaram, Persuasion Not Compulsion, The Star, Collaring white collar criminals, Commercial Crimes Division, Police, 8 March 2008, Nascom, jail term, rotan, Suhani Mat Daud, Dato' Koh Hong Sun, Zulkifli Amin Mamat, Hasbi Hasan
It’s good to know that P. Gunasegaram of the article ‘Persuasion, Not Compulsion’ infamy is back in circulation and has not been put out to pasture, as many had speculated.
His latest article, ‘Collaring white-collar criminals’ is a much safer subject for him to comment on as opposed to religious or racial 
topics. That is notwithstanding the fact that his latest view on white collar crime is not new and is somewhat behind times (Click HERE to his article).
He still maintains his view that the Securities Commission and the Companies Commission should merge because according to Guna, “The body that should lead looks like the SC which seems to have the staff and the resources to deal with the problems”. The merger was originally proposed by the then Prime Minister, Abdullah Ahmad Badawi. Pak Lah has since moved on in March 2009 although he had been a lame duck PM since the 8 March 2008 General Elections.
What I am trying to get at is that we are now in March 2010 and the proposed merger of the Securities & Companies Commissions has not happened. Don’t think it will!
And by the way, Guna was lamenting (again) about the ‘slap on the wrists’ for perpetrators convicted for white collar crime …. which includes criminal breach of trust. Based on recent Securities Commission convictions, these jokers plunder hundreds of millions of Ringgit from companies and yet, they mostly get fined between RM300,000 to RM500,000 
only, nothing more. We used to think that it was due to the lack of power to prosecute under the securities laws. But with so many amendments made to these laws in the last few years, this excuse is beginning to wear thin.
Even by using the bench-mark maximum penalty under securities laws of RM10 million fine and/or 10 year jail term, a convict fined only RM300,000 (after stealing at least RM100 million) can only indicate that the prosecution’s case was not very convincing to warrant the maximum penalty from the judge!
Now, consider the penalties meted out from recent (Police) Commercial Crimes Investigation Department convictions, e.g. the ex-CEO of Nascom convicted of criminal breach of trust involving only RM1.61 million, was not only jailed 4 years but he was also to be given 3 strokes of the cane (click HERE)…. and it’s not like the ‘sympathetic caning’ of those 3 girls involved in illicit sex! Thinking that it may be a flash in the pan, on 5 March 2010 a former lawyer, Suhani Mat Daud, was reported to have been sentenced to a two year jail term for the mis-appropriation of only RM271,000 …. and the monies had been returned to the victim by Suhani (click HERE)! And both of these convictions are white collar crimes also!
Maybe Guna should instead consider giving credit to the Police’s Commercial Crimes Investigation Department, which is 
currently headed by Dato’ Koh Hong Sun.
Furthermore, since the merger with the Securities Commission will most probably not occur, the Companies Commission should consider engaging and learning from the Commercial Crimes Investigation Dept of the Police in terms of effective investigation, prosecution and conviction of white collar crime!
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