Section 17A Of The MACC Act 2009 (Amendment 2018)

Laws & Regulations

21
Jan 2020

21 January 2020

8:30 am - 5:30 pm

Securities Commission Malaysia

Claimable
10 CPE

MYR 950 *Fee is not inclusive of 6% SST

Corruption has undoubtedly been one of the most deep-rooted, pervasive problems that has crippled economies around the world. The Corruption Perception Index (CPI) 2018 ranked Malaysia on the 61st place out of 180 countries. The launch of the National Anti-Corruption Plan (NACP) 2019-2023 was one of the government’s initiatives in realizing Malaysia’s manifesto towards a nation with integrity and free from corruption. Themed ‘Breaking the Corruption Chain’, the NACP was developed to be implemented in five years.

Section 17A (1) of the MACC (Amendment) Act 2018, addresses corporate liability for corruption where directors and senior management will be held personally liable for acts of corruption committed by the organisation, either by personnel or parties acting on behalf the organisation. Penalties include fines up to RM1 million and/or prison sentences of up to 20 years for those in charge of the company.

However, Section 17A allows a defence for the organisation, by proving it had in place “adequate procedures” designed to prevent person(s) associated with it from undertaking such a conduct. A Ministerial Guidelines on Adequate Procedures issued laid out five (5) key principles on how Adequate Procedures may be developed as lines of defence for commercial organisations as well as those in charge with governance and management of the organisation.

The programme will provide insights of the new provision and discuss the adequate procedures and its practical applications

Programme Objective
The aim of this programme is to help participants grasp the essence of corporate liability, its implications and practical applications to ensure business organisations continue their operations with clean and ethical practice.

Learning Outcomes
Upon completing the programme, the participant should be able to:

  1. explain the rationale and key features of the new Corporate Liability Provision
  2. describe the implications of the new provisions towards organisations, directors, partners and the management
  3. explain the adequate procedures and practical applications to protect the organisation against prosecution
  4. discuss the recommended practices to enhance the organisation’s anti-corruption compliance programme in dealing with corruption

Methodology
Interactive presentations, Question-and-Answer (Q&A) sessions and classroom activities (guided discussions)

Competencies

Core – Ethics & Integrity (Level 3)
Core – Corporate Governance (Level 3)
Foundational (Regulatory) – Capital Markets Regulations (Level 3)

Target Audience

Individual 

Directors, Company Secretaries, Partners of Firms, C-Suites, Lawyers, Accountants, Corporate Consultants, Capital Markets Services Representative’s License Holders, Professionals undertaking corporate advisory work, Financial Controllers, Head of Compliance, Head of Legal, Integrity Officers, Risk Officers, Sustainability Officers, Internal Auditors

Institutions 

Public Listed Companies (PLCs), Legal Firms, Consultancy Firms, Accounting Firms, Fund Management Companies, Stockbroking Firms, Investment Banks

8.30 am Registration
9.00 am
Speaker: Lee Shih
Enhancing Corporate Governance by Understanding Key Features of Sec 17A

  • Key features of the new Section 17A on corporate liability
  • Implications to organisations, directors, partners and management team
  • Offences and penalties under Section 17A of the MACC Amendment Act 2018
  • Related legislation and governance practices
    • Malaysian Code on Corporate Governance
    • Companies Act 2016
    • Capital Markets & Services Act 2007
  • Case studies: Integrating ethics and integrity into the organisation’s governance framework, corporate strategies and operations
10.00 am Coffee Break
10.15 am
Speaker: Lee Min On
New Dawn on Corporate Malaysia: Amendments of the MACC Act 2018

  • Overview and the key changes of the amendments to the MACC Act 2018
  • Corporate liability for corruption: International and Malaysia legislations
12.30 pm Lunch
2.00 pm
Speaker: Lee Min On
Preparing for Corporate Liability: Prevention Against Corruption   

  • Overview of Malaysian Ministerial Guidelines on Adequate Procedures (T.R.U.S.T.) and their practical applications
  • Overview of the ISO37001:2016 Anti-Bribery Management Systems
  • Analysing organisational health and governance: A defense against corruption prosecution
3.45 pm Coffee Break
4.00 pm
Speaker: Lee Min On
Recommended Practices: Adoption Measures and Action Plans

  • Case studies: Insights and key lessons learned from corruption prosecution, and the corrective measures that can be taken to prevent it
  • The role of board and management in dealing with corruption and its challenges
  • Building and enhancing a robust anti-corruption compliance programme
5.00 pm End of Programme

LEE SHIH

Lee Shih regularly acts in corporate disputes, cross-border disputes and international arbitrations. His work focuses on commercial and corporate litigation, fraud and asset recovery, and insolvency matters. He is the sole Malaysian member of ICC FraudNet, an international network of independent lawyers who are the leading civil asset recovery specialists in each country.

Chambers Asia-Pacific 2019 described him as “very dynamic, charismatic and sharp” and Legal 500 Asia-Pacific 2019 stated that “deeply knowledgeable international arbitration and insolvency specialist Lee Shih ‘never fails to deliver high-quality advice in his trade mark disarming fashion’.”

He graduated from the University of Bristol, England with a LLB (Hons) degree. He was admitted as a Barrister-at-Law (Gray’s Inn) and is an Advocate & Solicitor of the High Court of Malaya.

He is the co-author of ‘Companies Act 2016: The New Dynamics of Company Law in Malaysia’ and also authored the chapter on Companies & Securities for Bullen & Leake & Jacob’s Malaysian Precedents of Pleadings.

 

LEE MIN ON

Mr. Lee Min On, Member of Institute of Internal Auditors Malaysia, Member of Malaysian Institute of Accountants and Member of Malaysian Institute of Certified Public Accountants.

Retired Partner of KPMG Malaysia after serving 36 years (20 years in Audit & 16 years in Advisory) with the Firm. He headed the Firm’s Risk Consulting division and Internal Audit, Risk & Compliance Services unit.

Speaks regularly at public seminars and in-house training on Sustainability, Corporate Governance, Risk Management & Internal Audit – how to embed the practical applications in organizations. Director of Coalition for Business Integrity Bhd, a not-for-profit organization that advocates, and trains boardroom players and Management, on how to embrace & embed good governance & integrity in the market place. He is a former Director of Coalition for Business Integrity Berhad and Audit Committee Chairman, Institute of Internal Auditors, Malaysia.

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