๐๐ซ๐จ๐ญ๐๐๐ญ๐ข๐ง๐ ๐๐ง๐ฏ๐๐ฌ๐ญ๐จ๐ซ๐ฌ - SC places 40 entities to alert list๐จ in 2021
Updated: Apr 23, 2022
28/3/2022
40 operators comprising of entities and related individuals has been placed on SC's (Securities Commission) Investor Alert List for carrying out the business of investment advice without a licence.
23 operators were directed to cease and desist from undertaking all activities in relation to unlicensed investment advice.
๐In 2021, it also made 275 new entries in the SC Investor Alert List
๐In 2020, 134 entries were placed in the same list.
SC warns the public against dealing or investing in unlicensed activities and scams.
143 websites found to be carrying out unlicensed activities, scams, and misusing the SCโs name and logo has been blocked by the SC with the assistance from the Malaysian Communications and Multimedia Commission (MCMC)
Furthermore, the capital market regulator also received assistance from Facebook Malaysia to geo-block 35 Facebook accounts.
The Consumer Credit Oversight Board (CCOB), as a new independent conduct authority under the MoF, will oversee of all consumer credit activities, starting with providers who are currently unregulated.
Concurrently, BNM and the SC are also conducting a feasibility study on the potential consolidation of conduct supervision for all intermediaries in the financial industry under a new integrated conduct authority. โ Bernama
(Source: MalayMail)