KUALA LUMPUR: The Securities Commission Malaysia (SC) has placed 40 operators comprising entities and related individuals on its Investor Alert List for carrying out the business of investment advice without a licence.
Twenty-three 23 operators were directed to cease and desist from undertaking all activities in relation to unlicensed investment advice, the commission said in its Annual Report 2021 released today.
In 2021, it also made 275 new entries in the SC Investor Alert List compared to 134 entries in 2020, warning the public against dealing or investing in unlicensed activities and scams.
These were followed by media announcements and postings on the SC's InvestSmart(R) social media channels to ensure a wider reach to the public.
In addition, the SC, with the assistance from the Malaysian Communications and Multimedia Commission (MCMC), has blocked 143 websites found to be carrying out unlicensed activities, scams, and misusing the SC's name and logo.
Further, the capital market regulator also received assistance from Facebook Malaysia to geo-block 35 Facebook accounts.
The Ministry of Finance (MoF), Bank Negara Malaysia, and the SC achieved a new milestone in July 2021 with the formation of a Consumer Credit Oversight Board (CCOB) Task Force, which is responsible for driving inter-Ministry efforts to enact the Consumer Credit Act (CCA).
The CCOB, as a new independent conduct authority under the MoF, will have oversight 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.
-- BERNAMA
Bernama
Mon Mar 28 2022
The Securities Commission Malaysia (SC) has placed 40 operators comprising entities and related individuals on its Investor Alert List for carrying out the business of investment advice without a licence. - SCM
COP29 climate summit draft proposes rich countries pay $250 billion per year
The draft finance deal criticised by both developed and developing nations.
Bomb squad sent to London's Gatwick Airport after terminal evacuation
This was following the discovery of a suspected prohibited item in luggage.
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.
Malaysia's inflation at 1.9 pct in Oct 2024 - DOSM
Malaysia's inflation rate for October 2024 has increased to 1.9 per cent, up from 1.8 per cent in September this year.
Saudi Arabia showcases Vision 2030 goals at Airshow China 2024
For the first time, Saudi Arabia is participating in the China International Aviation & Aerospace Exhibition held recently in Zhuhai.
King Charles' coronation cost GBP 71mil, govt accounts show
The coronation of Britain's King Charles cost taxpayers GBP72 million (US$90 million), official accounts have revealed.
Couple and associate charged with trafficking 51.9 kg of meth
A married couple and a man were charged in the Magistrate's Court here today with trafficking 51.974 kilogrammes of Methamphetamine.
PDRM to consult AGC in completing Teoh Beng Hock investigation
The police may seek new testimony from existing witnesses for additional insights into the investigation of Teoh Beng Hock's death.
Thai court rejects petition over ex-PM Thaksin's political influence
Thailand's Constitutional Court rejects a petition seeking to stop Thaksin Shinawatra from interfering in the running the Pheu Thai party.
Abidin takes oath of office as Sungai Bakap assemblyman
The State Assemblyman for Sungai Bakap, Abidin Ismail, was sworn in today at the State Assembly building, Lebuh Light.
UPNM cadet officer charged with injuring junior, stomping on him with spike boots
A cadet officer at UPNM pleaded not guilty to a charge of injuring his junior by stomping on the victim's stomach with spike boots.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
The indictment was unsealed on Nov. 20, prompting a $27 billion plunge in Adani Group companies' market value.
Elon Musk blasts Australia's planned ban on social media for children
Several countries have already vowed to curb social media use by children through legislation, but Australia's policy could become one of the most stringent.