What specific instructions did Azam Baki give for the account?

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Azam Baki's Control Over Share Trading Account Confirmed by Securities Commission

The Securities Commission (SC) has clarified that Tan Sri Azam Baki maintained full control over a share trading account, which he had previously stated his brother used. The SC concluded that Azam did not violate Section 25(4) of the Securities Industry (Central Depositories) Act 1991, as he was the named account holder and exercised operational authority over it. Azam Baki was reported to have provided instructions for the buying, selling, and transfer of securities from this account.
Operational Authority Established

The SC's determination that Azam Baki did not breach Section 25(4) of the Securities Industry (Central Depositories) Act 1991 hinges on his established control over the trading account. This conclusion was reached because Azam was formally listed as the account holder, signifying his ownership and responsibility. The regulator's findings indicate that this direct oversight was a key factor in their assessment of the situation.
Instructions for Securities Transactions

It was stated that Tan Sri Azam Baki actively operated the account by issuing directives for various securities transactions. This included giving instructions to buy, sell, and transfer securities. These actions demonstrate a level of direct engagement with the account's activities, which formed part of the SC's basis for its conclusions.
Brother's Use of the Account

The context for the SC's clarification arose after Azam Baki admitted that his brother, Nasir Baki, had used his share trading account with permission. This occurred in 2015, during which millions of shares in two public-listed companies were purchased. However, the specific details of these transactions or the nature of the securities involved were not elaborated upon in the provided information.

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What specific instructions did Azam Baki give for the account?

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