Bank Negara asserts right to act amid row with Attorney-General

Kuala Lumpur

MALAYSIA's central bank asserted its right to take action on regulatory breaches under its purview, amid differences with the Attorney-General over whether criminal proceedings should be taken against a state investment company that is being probed for alleged financial irregularities.

Bank Negara Malaysia is authorised to take action including ordering restitution, issuing a order to comply or imposing monetary penalties on parties that fail to obey laws under its jurisdiction, it said in a statement on Monday. Such penalties are separate from and may be meted out concurrently with any criminal proceedings initiated by the Attorney-General, it sai…