Icon8888 Gossips About Stocks
(Icon) My Comments On Hiu Chee Keong's Recent Article About Making Buy and Sell Calls
On 8 May 2016, Hiu wrote an article which bears the title "It Is Illegal To Recommend Any Buy or Sell, Unless You Have License".
The article generated a lot of interest. However, as I went through the article, I grew increasingly uncomfortable. It seemed that the article was written based on inputs picked up from various NON legal sources. And also, the author did not furnish the exact wordings of the relevant rules and regulations. As such, it is simply impossible to determine how correct his view is.
I usually don't write article to comment about other people's articles. However, as I am an active blogger and I do recommend Buy and Sell occasionally, the information in Hiu's article will have bearing on my blogging activities. It will also affect the way discussions are conducted in the forum. As such, I feel that I should voice out my view. Please refer below.
In my opinion, this statement is a bit too general. I know that the authority doesn't allow unlicensed persons to provide fee charging advisory services. I also know that the authority does not allow unlicensed persons to collect funds from public through internet for investment purpose. However, it is unclear what laws, if any, govern Buy and Sell call by writers (bloggers or books) or through public speaking (for example, Uncle Koon), especially if the activities do not involve charging fees.
Please don't get me wrong. I am not saying that I am of the view that Buy and Sell calls by Bloggers are not subject to any rule and regulation. I am not sure too. However, I am calling on the author to name the relevant rules and regulations so that we can all know that they do exist and we can proceed to debate the wordings.
We should not allow a gag order to be unilaterally imposed on us unless we are sure that the laws indeed say so.
To facilitate the discussion, one forum member has done a good job by presenting the following piece of information :-
The wordings of this particular section of the Capital Market and Services Act is interesting. Does it cover Blogging activities and public speaking ? Or it is meant to capture those people artificially manipulating share price (mostly syndicates) ? I don't know. However, I applaud Up Down for furnishing the information. At least we have something tangible to work on, instead of operating in a vacuum. That should be the way we approach this particular topic.
Concluding Remarks
While I do not advocate manipulating public opinion to benefit ownself financially, I caution against jumping into conclusion on anything remotely related to it. Before we have a clearer picture, we should be careful not to discourage Bloggers from making Buy and Sell calls when those calls could have helped many people to identify undervalued stocks.
I suggest we treat this topic as still inconclusive and that Hiu's article is merely the opening salvo to kick start a debate related to an issue that affect all of us.
We shouldn't jump into conclusion until further discussions, to be conducted based on exact wordings of the rules and regualtions, lead to a clearer picture.
Have a nice day.
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Discussions
3 people like this. Showing 50 of 53 comments
Based on my experience, Bursa do aware of the situation of blogger but they usually don't bother to catch unless it involve massive manipulation or there are unusual market activities upon you post your article then they might ask for queries.
2016-05-10 11:23
Uncle Koon will be in deep shit if SC investigates his securities dealing without making proper disclosure and it may lead to share price manipulation probe.
2016-05-10 11:24
yup, if a lot of complaint regarding uncle koon was sending to SC. Investigation will be set up on him for sure because he is substantial shareholder and promoting his share during his holding period but did not timely disclose upon selling. This might subject to market manipulation.
2016-05-10 11:27
Koon cannot be reached for few days oredi...I am started to get worried...there are not too many caves in Ipoh to hide..
2016-05-10 11:29
As I can recall, it might take months for SC to investigate before the prosecution. Some investigation might take more than 6 month depends on the amount and people involved.
2016-05-10 11:30
It took years!!!!!!!! Example for the case of Repco Lau...I think more than 15 years
2016-05-10 11:32
It will be fast if you help to collect all the necessary evidence and performed an analysis for SC then they just need to verify on your material. Haha
2016-05-10 11:35
Dont like that lah....Koon may do some monkey tricks here but in general he is still a good man....
2016-05-10 11:35
Is it the losers should be proud for such donation? cause there are an indirect contributor.
2016-05-10 11:39
Robin Koon style
Posted by murali > May 10, 2016 11:35 AM | Report Abuse
Every Rm3 he made from u he donates RM1 out to the poors
2016-05-10 11:41
Dont be so calculative....most of the people dont make donation one i believe..at least he helps them to donate indirectly...good karma goes to the actual donors while fame goes to Koon...OK lah
2016-05-10 11:41
Ks55, I believe u are the same generation with Koon. U guys like to look down people on their jobs, level of England, money in the bank etc
2016-05-10 11:44
What medicine to eat, that I don't know, but you will die if you don't eat.
This call lazy & irresponsible comment, just like KOPITIAM TALK, talk whatever you like & no need to clarify further.
-------------------------------------
Hiu Chee Keong: "what exact license is it, that i don't know, but you do need a license"
2016-05-10 11:47
You guys were holy man yesterday , this and that must according to law.
Today money talks. lesser money are losers.
Totally can understand why in uncle KYY's eyes, all are losers.
2016-05-10 11:51
those older generations...80% PLP their boss...20% real work.
they may hold C Manager post...but for their big boss...if required they don't mind washing his underwear.
you are totally right Tony
2016-05-10 11:59
Koon owns few hundred millions...ks55 owns rm15 millions,both look down people poorer than them
2016-05-10 12:22
an amatuer without substance and thinks he is skyhigh due to some little success...ego problem...
2016-05-10 12:25
KYY and OTB like hand in glove. OTB don't even dare to terang terang denounce KYY. Still buy sell for him and then create ambiguity.
2016-05-10 12:36
“As such, I feel that I should voice out my view”
Yes, when saw/read something that's not right. What's not right? The right to speak as mentioned in the Federal Constitution or any other related laws? Who has the power to say who's right or who's wrong? 我不是专家，仙家淋吹水吹喇叭，讲股佬，啤mata拉啊？
2016-05-10 12:45
Guys, we have biger issue in Malaysia lar..
Hiu is good in capture attention.
But, as usual One cant jump into conclusion yet, especially from half content article by Hiu.
No, offence really.
2016-05-10 14:01
yes it is illegal. but what to do, this is Boleh Land, semua illegal also boleh.
2016-05-10 14:14
@speakup. I posed this question to someone else. How do you know? Can you present a legal case to back up your assertion? How can you be held liable to something, if you have not charged any money or entered into a contract. please back up your assertions with some legal jargon otherwise you won't be taken seriously.
2016-05-10 14:21
I believed blogging do not falls under the armpits of the market securities & service act 2007. only the SC can confirm ?
2016-05-10 14:21
yeah. i believe you are correct Jonathan. plus they don't have the time to chase finance bloggers. they only want to find opposition and 1MDB bloggers.
2016-05-10 14:24
murali why must you believe ks55? Does he show his bank account to you? Why some stocks his promote keep dropping until he need to delete his postings? At least KYY is donating a lot of money so his millions(or hundred million) is genuine.
Posted by murali > May 10, 2016 12:22 PM | Report Abuse
Koon owns few hundred millions...ks55 owns rm15 millions,both look down people poorer than them
2016-05-10 14:29
Oh, now i see why you are so upset about my previous post. First of all, the post is just a share for discussion, it is not to against anyone. I don't even know who you are. And as i suggested in my post, just add a simple *disclaimer will do, just like what the pro did, just as easy as that. It won't affect anyone to post or to discuss anything in the forum.
- I usually don't write article to comment about other people's articles. However, as I am an active blogger and I do recommend Buy and Sell occasionally, the information in Hiu's article will have bearing on my blogging activities. It will also affect the way discussions are conducted in the forum. As such, I feel that I should voice out my view.
2016-05-11 06:07
Hello I take rm3 from u and donate rm1 out and that makes it ok to take from you? Please go tell that to the banks, tell that to everyone you take from. I'll do better than KYY. I'll take the same amount from you and give out rm2.98. Gimme you ur money and call me a greater man !
2016-05-11 06:50
Not my logic, it's a real story.....Koon Koon made RM150 million from stock market last year and he donated RM50 million to Penang
2016-05-11 07:03
Posted by cpng > May 11, 2016 09:10 AM | Report Abuse
@murali
Are you sure the money reach the penang govt hand??
That one has to ask Ah Eng oredi....
2016-05-11 09:13
@murali
This piece news won't guarantee anything.
We need to confirm with DAP friends in penang govt.
Just like the old man always blur blur his scholarships,we ask for the supporting docs or photos.
2016-05-11 09:30
regarding uncle KYY..
http://www.thestar.com.my/business/business-news/2016/05/11/koon-discloses-substantial-stake-buy-in-focus-lumber-after-4-weeks/
2016-05-11 09:44
MoneySIFU, you know money laundering and inside trading is illegal, right ? Then can you cite which articke of law said it is illega ?
And, how many things that you know it is illegal, and you know exactly which articke of law said it is illegal ? the fact is, you don't. The only different here is, i admit i don't know exactly which, i only heard it from reliable sources like newspaper and authoruty press reliased. And as others users pointed it out, you need to pass sc exam module 12 and 19.
2016-05-11 13:32
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2016-05-10 11:20