107 KENANGA INVESTMENT BANK BERHAD Annual Report 2022 • Annual Regulatory Seminar 2022 The 7th Annual Regulatory Seminar (“ARS”) in 2022 was incorporated as one of the events for the 6th FAW and in aligning with the objective of addressing contemporary key issues of the FAW, the same theme was also adopted for the 7th ARS. The 7th ARS consisted of a total of 8-series of e-learning containing important subjects and messages that are relevant to the regulatory outlook and developments, fraud, ethics and integrity, governance, cyber security as well as regulators’ expectations. The training sessions were conducted by various subjectmatter experts within Kenanga and invited speakers including Mr. Dan MacCrum and Ms. Erika Cheung, Co-Founder of Ethics in Entrepreneurship who is also one of the whistleblowers in the Theranos scandal. The pre-recorded sessions were accessible online by all employees nationwide through learning portal of Kenanga and a short pre-and-post quiz was also held as a tool to evaluate the understanding of employees of the topics covered. A total of 1,134 employees enrolled to the 7th ARS. Upon completion of the training within the stipulated timeline and achieving a minimum of eighty-percent (80%) scores in the post quiz, employees who are holders of the Capital Markets Services Representative's Licence were also awarded ten (10) CPE points that have been accredited by Securities Industry Development Corporation. • Monday Must-Know Quiz (“MMKQ”) MMKQ is a new training and awareness initiative introduced in the form of a quiz which is mandatory for employees of Kenanga. The quiz covers a broad range of topics that are centered and focused on ethics and regulatory compliance, and served as a refresher on the policies and procedures of Kenanga on the subject matters. There were three (3) sets of a 5 (five) multiple-choicequestions quiz issued in 2022 based on a short video on the following topics: • Fraud Triangle • Anti-Bribery and Anti-Corruption • Conflict of Interest Each MMKQ was launched on the first Monday of three (3) selected months in 2022 and was opened for attempt by employees until end of the year. • Explainer Video on Unusual Trading Activities GRCS issued an explainer video as an outreach program to all licensed dealers’ representatives (including commissioned dealers’ representatives), employees and Board in relation to the regulatory requirements for unusual trading activities. The explainer video highlighted the various types of irregular trading activities in the equity markets that could possibly threaten a fair and orderly market. The video further explained the common red flags, the escalation process and the consequence if the licensed dealers’ representatives is found to be involved in the manipulative trading activity as well as the possible surveillance actions from the regulators. • Enhanced AML/CFT/TFS Review As part of the continuous effort to mitigate ML/TF/PF risks of Kenanga, numerous AML/CFT/TFS reviews have been extended to all subsidiaries and carried out on a group-wide basis. In this regard, the enhancement of the monitoring mechanism will facilitate close monitoring of the level of AML/CFT/TFS compliance to meet the regulators’ expectations. Kenanga has also rolled out the Enterprise Wide Risk Assessment 2022 and the Overview on ML/TF/PF Risk Assessment 2021 to enhance awareness and understanding of the Board and Senior Management of ML/TF/PF risks associated with business strategies, delivery channels and geographical coverage of its business, products and services offered and to be offered in order to maintain accountability and oversight for the establishment of AML/ CFT/TFS policies and minimum standards. This will assist in the formulation of the AML/CFT/TFS policies to ensure that they are in line with the risks profiles, institutional and business structure, delivery channels and geographical coverage. ETHICS AND COMPLIANCE STATEMENT
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