• Robert Tu (R2)

🚫 Seven Unlicensed "Stock Gurus" slapped with cease-and-desist order by the SC 🛑

Updated: Sep 13

(Kuala Lumpur 22/3/2021): 7️⃣unlicensed "stock gurus" have been slapped with cease and desist orders by the Securities Commission (SC) as the capital market regulator tries to clamp down on illegal investment advice.


The regulator said the cease-and-desist orders were issued following the SC’s findings that the operators had been carrying out the business of advising others concerning securities or derivatives, including providing stock recommendations upon payment of a fee.

Image from The Star

According to the SC, providing investment advice is a regulated activity that requires a license under the Capital Markets and Services Act 2007 (CMSA).

Image from iPleaders Blog

Any person carrying on a business of giving investment advice without a license has committed an offence under the CMSA, which is punishable with a fine not exceeding RM10 million or imprisonment not exceeding 10 years or both


The 7️⃣ unlicensed operators and advisers are:

  1. Don Trader/DT Academy Sdn Bhd

  2. Engineer Saham/Ergonamos Marketing — Mohd Faizal Bin Raihan

  3. Felix Consulting

  4. Lifestyle Trading Masterclass/LTM Tech — Jeremy Looi Chee Keong

  5. One Stock Centre/Stock Advisor/The SuperInvestor/SA Expert Consultancy — Logeswaran Balasubramaniam

  6. Serikandi Saham/Thoriq Legacy Sdn Bhd — Fatin Fatini Ismad

  7. Teknik Saham — Fazlisyam Md Isa.


The SC also warned operators of other online webinars, seminars, social media and messaging application chat rooms to cease carrying out unlicensed investment advice activities.


The SC is monitoring this closely and will, where appropriate, take action against those who breach securities laws


Public are urged to report to the SC if they had been approached by unlicensed persons offering capital investment advice at aduan@seccom.com.my or call +603 6204 8999.


Public are reminded to be vigilant and be cautious of the risk of participating in any investment schemes as they could be subject to fraud or used as part of a market manipulation scheme.


The SC said investors should verify the license or registration of individuals, companies and platforms offering capital market services or products, including the provision of investment advice before making any investment decisions.


💥Public Register of License Holders www.sc.com.my/licensedregistered-persons


💥List of Registered Recognized Market Operators

www.sc.com.my/rmo


In 2020, the regulator made 134 entries into the SC’s investors alert list and blocked 78 websites. In addition, the SC’s consumer and investor office had recorded an increase of 158% in complaints and 123% in enquiries on the legitimacy of investment schemes.



(Source: https://www.theedgemarkets.com/article/sc-issues-ceaseanddesist-order-seven-unlicensed-operators?fbclid=IwAR2dMBBDv_6rBs2P9g1VmlXgt5UWKOUwrABxBrpaKxTeQBUUh9imt90-qoM#.YFgu-4CAdwU.facebook)


(Source: https://www.thestar.com.my/business/business-news/2021/03/23/stop-it-sc-tells-unlicensed-stock-advisers?fbclid=IwAR08tgpBhVVSjvyKtu8qxbJZi4Hc2ZAKy_aRH72AOhX0Ux0sngojp4hDw8s)

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