In a statement, it said Lim Chee Kuang was formerly attached to UOB Kay Hian Wealth Advisors (M) Sdn Bhd but declared false information to the commission in his application for the licence.

It said he falsely declared that he had never been subject to any disciplinary proceeding or action by professional or regulatory bodies or any of his employers in the past.

“However, it was found that Lim had in fact been subject to disciplinary proceedings or action by his former employer which resulted in his termination.

“Submission of a false or misleading statement to the SC in connection with an application for a CMSRL is a serious offence under Section 71 of the Capital Markets and Services Act 2007, which could result in the revocation of the same.

“As such, the SC finds that Lim is no longer fit and proper to carry out regulated activities in the Malaysian capital market,” the commission said, adding that his licence was revoked on March 7.

Lim did not file an appeal against the SC’s decision within the time frame provided for under the act, it added.