What is Deloitte seeking in its judicial review against the SC?

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Deloitte Seeks to Overturn Securities Commission's RM2.2 Million Fine

Deloitte PLT is pursuing a judicial review to overturn the Securities Commission's (SC) decision to uphold a RM2.2 million fine. The auditing firm is seeking a court order to quash the SC's review ruling and, if successful, to recover the RM2.2 million already paid. The High Court has set October 26 for its decision on this matter.
Quashing the SC's Review Decision

The core of Deloitte's judicial review application is its request for a certiorari order. This order would effectively quash the SC's review decision made on August 19, 2019, which affirmed the initial fine of RM2.2 million imposed on January 30, 2019. Deloitte contests the SC's dismissal of its application to review the administrative sanctions.
Recovery of Paid Fine

Should the judicial review prove successful, Deloitte is also seeking the return of the RM2.2 million it has already paid to the SC. This claim for recovery is contingent upon the court ruling in favour of Deloitte's application to overturn the SC's decision.
Seeking Costs and Further Orders

In addition to seeking the quashing of the SC's review decision and the return of the fine, Deloitte is also requesting legal costs. The firm is further seeking any other orders that the court deems fit and appropriate in light of the proceedings.
Background of the Fine

The RM2.2 million fine was imposed by the SC on Deloitte for four breaches linked to a RM2.4 billion sukuk (bond) issued in 2014 by Bandar Malaysia Sdn Bhd (BMSB). BMSB was a subsidiary of 1Malaysia Development Berhad (1MDB). Deloitte served as the statutory auditor for BMSB and 1MDB Real Estate Sdn Bhd for their financial years ending March 31, 2015, to 2016.

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What is Deloitte seeking in its judicial review against the SC?

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