Posted by WaKaLuGong > 2016-05-08 13:50 | Report Abuse

in boleh-land, obeying rules n regulations will not get u anyway, breaking it will.

Posted by johnny cash > 2016-05-08 14:23 | Report Abuse

Carefull with rules and regulations, because all this set up, is actually for their benefit in making money, but it does not help retail investors like you and me

Posted by Hiu Chee Keong > 2016-05-08 14:25 | Report Abuse

The big funds always a step ahead in getting the latest news, only insiders beat them. Let put aside the leaking part, even if an individual investor know the news with the big fund at the same time, the individual will hesitate in selling while the big fund has no problem to dump the share with big lose. when the individual finally see the price drop like hell, then only they panic and sell, but it is too late then.

Posted by stockmanmy > 2016-05-08 14:38 | Report Abuse

Warning....

Remisier licence is to do remisier work

Remisier licence is not an investment advisor licence . These are separate and different licenses.
If in doubt contact the SC or your lawyers.


Subscription fees is outside the scope of a remisier licence.

Posted by Hiu Chee Keong > 2016-05-08 14:39 | Report Abuse

Johnny, yes, there is some weakness, but there is some benefit too, imagine if anyone can simply make recommendation, without any obligation, and no need any credibility, then it will be chaos and more people will get conned. I rely a lot on the authority licensed broker research, there has a lot of condition need to be fulfill, like must declare the risks, show PE and EPS, and explain the reason behind their call ...and so on. Yes, it is delay and not always right, but still a valuable source, my lost rate is low bcos i always check the credible sources before buying.

Posted by kpfam > 2016-05-08 14:48 | Report Abuse

Nonsense. It is NOT wrong or illegal to recommend buy or sell.

You need a licence/permit only if you receive/require consideration (payment) for that advice.

Posted by donfollowblindly > 2016-05-08 14:50 | Report Abuse

Hiu how about your sell call? Is it legal?
http://klse.i3investor.com/servlets/cube/post/100000425625528.jsp

Posted by Hiu Chee Keong > May 8, 2016 02:39 PM | Report Abuse
Johnny, yes, there is some weakness, but there is some benefit too, imagine if anyone can simply make recommendation, without any obligation, and no need any credibility, then it will be chaos and more people will get conned. I rely a lot on the authority licensed broker research, there has a lot of condition need to be fulfill, like must declare the risks, show PE and EPS, and explain the reason behind their call ...and so on. Yes, it is delay and not always right, but still a valuable source, my lost rate is low bcos i always check the credible sources before buying.

Posted by cariayam > 2016-05-08 14:53 | Report Abuse

hehe ...suddenly ppl wonder what is legal or not

Posted by Hiu Chee Keong > 2016-05-08 14:56 | Report Abuse

Kofam, may be you are right, may be you are wrong, the exact rules, nobody knows, i will ask my broker tomorrow see what exactly need a license an what license is it.
But a private recommendation at mamak store between your friend certainly is not going to break any law, but making an open recommendation that view or read by thousands people, i think do fall into the rules and regulation even if it has no money involved.

Posted by Hiu Chee Keong > 2016-05-08 15:02 | Report Abuse

Donfollowblindly, i dont remember i making any call or sell, i would only say ' i will' buy this and do that, but never a call to anyone to buy or sell anything. I will say i put this in my watchlist, and queue this at this price, that is not a recommendation, that is just saying what i will do' and it is legal to do so as it is not a call to buy or sell,

Posted by VenFx > 2016-05-08 15:10 | Report Abuse

Hahaha, Public media count, not social forums rite ?

Posted by kpfam > 2016-05-08 15:11 | Report Abuse

It is basic law of contract. There is no contract without consideration. Hence, if there is no contract, no one is compelled to follow his recommendations.

You may however, look at the law of torts. From Wikipedia: A tort, in common law jurisdictions, is a civil wrong that unfairly causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act

However, in this case, it is the plaintiff that has to provide proof of wrongdoing. And we know in this court of anonymous forummers, not a single word can be trusted as fact.

Posted by Apollo Ang > 2016-05-08 15:11 | Report Abuse

sc mata buta.so many insider trading yet they diam diam

Posted by Hiu Chee Keong > 2016-05-08 15:34 | Report Abuse

Dont worry la guys, just a discussion only, not like you will be in jail tomorrow. Traffic also got laws, how many times you break it and how many time you get caught ? Even if you make 100+ long list recommendations, unless someone log a official complaint with the authority, they will just pretend not knowing it, even if they know :D

Posted by speakup > 2016-05-08 15:39 | Report Abuse

SC will throw the book at Mr Koon. Why? Because Mr Koon is anti BN. This is SC's opportunity to get back at Mr Koon. Just like Mr Stanley Thai, they charge him for manipulating APLI shares.

Posted by speakup > 2016-05-08 15:40 | Report Abuse

in Malaysia, the slightest small things the authorities will go after u if u are anti-BN. but if u are pro-BN, big big corruption also they will close one-eye. Example 1MDB, PKFZ,.

Posted by Up_down > 2016-05-08 15:51 | Report Abuse

Anti-BN, 自己抓蟲入屎窟...水洗不清囉.

Posted by Up_down > 2016-05-08 17:21 | Report Abuse

He got a choice......donate money money to BN and reposition himself to be pro-BN.

Posted by cpng > 2016-05-08 17:31 | Report Abuse

SC official complaint platform.

http://www.sc.com.my/lodge-complaints-2/captmarket/

Posted by hpcp > 2016-05-08 19:17 | Report Abuse

Hiu, you don't know or no body knows? But judging from the title "It is illegal to recommand any BUY or Sell, unless you have license !" and your write up, you seem to be quite sure license is required.

Hiu Chee Keong Kofam, may be you are right, may be you are wrong, the exact rules, nobody knows, i will ask my broker tomorrow see what exactly need a license an what license is it.
But a private recommendation at mamak store between your friend certainly is not going to break any law, but making an open recommendation that view or read by thousands people, i think do fall into the rules and regulation even if it has no money involved.
08/05/2016 14:56

Posted by splinky > 2016-05-08 20:13 | Report Abuse

I am a remisier so i should know the answer

Only those with an Investment Adviser license will allow him /her to issue a Buy or Sell call on equities listed on Bursa.

Remisiers or dealers have a Dealer Representative license. This allows you to execute orders with Bursa Malaysia in an efficient and fair manner.

Posted by stockmanmy > 2016-05-08 20:31 | Report Abuse

An analyst with an IB cannot issue a research report with his name on it unless he has been licensed by the SC and passed two exams conducted by the SIDC.

Posted by donfollowblindly > 2016-05-08 20:45 | Report Abuse

If we lose money following Investment Adviser wrong call can we sue them? I mean glove stocks buy call and many others. How about OTB wrong call in Genetec? Can I sue him?

Posted by splinky > May 8, 2016 08:13 PM | Report Abuse
I am a remisier so i should know the answer

Only those with an Investment Adviser license will allow him /her to issue a Buy or Sell call on equities listed on Bursa.

Remisiers or dealers have a Dealer Representative license. This allows you to execute orders with Bursa Malaysia in an efficient and fair manner.

Posted by WINNING > 2016-05-08 20:55 | Report Abuse

Anyone can be a conman All licence broker also con people money Everydays they recomand buy or sell this and that. we cannot stop this because this is a business. Someone need to loss your money and the lets someone earn from you. Only trade smart will WIN.

Posted by Mohd Fahmi Bin Jaes > 2016-05-08 20:56 | Report Abuse

get license, reccomen buy, then price down

Posted by Hiu Chee Keong > 2016-05-08 21:04 | Report Abuse

Hpcp, i know it is illegal, just as sure as my post title, i heard it many time from different reliable sources, included from brokers, from newspaper like sinchew and star, and from the authority news release as well. But since i can't fimd the exactly law detail, and also don't want to get into long argument with anyone here who doubt it, so i just agree with their doubt and soften my statement to 'may be or may be not' , just as courtesy. No point to get into something 'i am right you are wrong' kind of argument.
Iike splinky said, he is remisier, he know.

Posted by Hiu Chee Keong > 2016-05-08 21:12 | Report Abuse

Dontfollowblindly, of course you can sue them, i read in newspaper that there were some similar cases in other country, but not yet in msia. Anyway, you must prove that he purposely misled you when he written the article, you kust proce that he knew Genetic will fall but still go on asking you to buy. And you should ready the full report as well, included the risk part, and the disclaimt part. If he written thousand words, but one only read the 'Buy' part, then cant blame the advisor completely, as there is no guarantee his recommendation will be 100% right, otherwise he will be billionaire already, no need to write research papers :D

Posted by donfollowblindly > 2016-05-08 21:35 | Report Abuse

If can, how to sue them? Report to whom? Police?

Posted by Hiu Chee Keong > May 8, 2016 09:12 PM | Report Abuse

Dontfollowblindly, of course you can sue them, i read in newspaper that there were some similar cases in other country, but not yet in msia. Anyway, you must prove that he purposely misled you when he written the article, you kust proce that he knew Genetic will fall but still go on asking you to buy. And you should ready the full report as well, included the risk part, and the disclaimt part. If he written thousand words, but one only read the 'Buy' part, then cant blame the advisor completely, as there is no guarantee his recommendation will be 100% right, otherwise he will be billionaire already, no need to write research papers :D

Posted by Hiu Chee Keong > 2016-05-08 21:59 | Report Abuse

Dontfollowblindly, you can start with formal complaint to whoever the authority that issue them the licensed, and their professional association. Of course, you can sue them yourself in civil court, you will stand a better chance to get big reward if you win. And if you have any doubt taht some corruption involved or wrong doing, you can always go to police or Macc.

Posted by paperplane2016 > 2016-05-09 06:58 | Report Abuse

Yes, you need license. Icon8888 in big time trouble

Posted by 3iii > 2016-05-09 07:13 |

Post removed.Why?

Posted by Hiu Chee Keong > 2016-05-09 08:05 | Report Abuse

paperplane2016, one can easily just add a disclaim like what newspaper does when article was written by non-licensed pro, something like : " * this article is just an illustration for education purpose only, you should consult your qualified financial advisor for buy and sell advise before buying and selling "

Posted by duitKWSPkita > 2016-05-09 08:09 | Report Abuse

என்ன நடந்தது？
何が起こりました？

Posted by stockmanmy > 2016-05-09 09:02 | Report Abuse

Icon will not be in trouble unless it can be proven he has commercial interest in it.

Posted by cakapcakap > 2016-05-09 09:06 | Report Abuse

Aiya, what licence? Even bankrupt can still use CFA title. Don’t believe just check with Association of CFA. In KL, there is at least one bankrupt CFA providing training programs to bankers and under SC training banner. What a joke?

Posted by noobnnew > 2016-05-09 09:10 | Report Abuse

Yes, they need to obtain CMSRL license from SC. The most common license will be module 6 and module 7 which usually obtained by broker and remisier to provide advice to their client. It is a must in Malaysia and those who fail to comply might charge under CMSA.

Posted by noobnnew > 2016-05-09 09:11 | Report Abuse

Investment Advice, Applicants must pass the SC Licensing Examination: Modules 12 & 19 or 12 & 19A.

Posted by Hiu Chee Keong > 2016-05-09 13:04 | Report Abuse

Noobnnew, thanks for the info :)

Posted by Hiu Chee Keong > 2016-05-09 19:53 | Report Abuse

Now investor.com here has put a very nice disclaimer on the bottom of the post, very fast respond, well done.

Posted by kk123 > 2016-05-09 19:56 | Report Abuse

If this is true: bloggers like icon, etc shld be charged in court for causing losses to retailers

Posted by Up_down > 2016-05-09 20:13 | Report Abuse

Jialat to bloggers. The law is there but no enforcement only. If someone log a formal complaint to SC, they may open a file for investigation.

Posted by Up_down > 2016-05-09 20:19 | Report Abuse

If this is the case then Uncle Koon could have violent many securities regulations.....His is too FAMOUS to anti-BN liao...樹大招風.

Posted by Newbie2 > 2016-05-09 20:21 | Report Abuse

I lose money following KC Chong tips on BIMB-W & Coastal Contract. Can I sue him?

Posted by Up_down > 2016-05-09 20:25 | Report Abuse

The problem is many did not put a disclaimer in their article. They did not know it is a serious matter when something bad had happened. Those who has been suffering losses by fully relying on the article BUY call may log a formal complaint to SC.

Posted by Lollipot Anison > 2016-05-09 20:26 | Report Abuse

....
it's up to you to believe.

it's like a salesman selling you something, in the end you can decide to buy / abandon.

don't moan

Posted by Up_down > 2016-05-09 20:28 | Report Abuse

What's the penalty for offering improper 'advice' without a valid license when the blogger does not include a disclaimer?

Posted by Up_down > 2016-05-09 20:30 | Report Abuse

Fortunebullx. Uncle Koon is a big big shark in investment community. It's worthwhile for them to invest time and money to grill big fish to gain public recognition. They may not care ikan bilis bloggers.

Posted by Up_down > 2016-05-09 20:38 | Report Abuse

His big name has appeared in mainstream newspaper. if SC don't take action means that the officers are sleeping. We don't need to log a complain to SC but make a complain to our PM. I think they are happy to action. Haha.

Posted by moneySIFU > 2016-05-09 21:00 | Report Abuse

What medicine to eat, that I don't know, but you don't eat, you will die.

-----------------
"what exact license is it, that i don't know, but you do need a license"

Posted by Hiu Chee Keong > 2016-05-09 21:02 | Report Abuse

Icon888, i'm not a lawyer, i am here just posting to share something i know, is up to you to accept it or not, no need detail, like everyone know over speeding is ilegal, but do you need to know every detail inclded what section of law and what exactly words by words in the law ? i am just a offer a friednly reminded, nothing more than that. For a normal investor like me, the excatly detail is not important, only know is it illegal is good enough, no need to remember one hundrd and one thing. As some pro remiser and some pro in the industry point up here, it indeed need a license. or, you can just give your broker a call and ask.
- no hard feeling, i didn't mention anyone's name here, it is the others in the comment that mention your name, i am neutral. And do you need to know every details of the law in order to know robbing a bank is illegal,?