Posted by paperplane2016 > 2016-05-09 21:06 | Report Abuse

Obviously, icon is not prpfessional fund mgr or adviser! You must have certain license under sc guidelines! Go study tht! Before make stupid c9 mmentd and make yourself look stupid here!you dont even have cfa, no sc license, not even study module 9,10, now wanna make lamsi comment? Save it to yourself!

Posted by Up_down > 2016-05-09 21:10 | Report Abuse

Kuala Lumpur, 19 April 2007
Securities Commission and Bank Negara Malaysia caution public against internet investment schemes-Advise public to invest with licensed parties only

The Securities Commission and Bank Negara Malaysia today cautioned members of the public to be on guard against investment scams promoted on the Internet.
Some companies and websites offering internet investment schemes are not licensed by Bank Negara Malaysia to accept deposits. They are also not licensed by the Securities Commission to provide investment advice that is related to securities or futures activities or carry out fund management activities in Malaysia. Such activities often come in the guise of attractive investment returns or opportunities.
Investors can ascertain the licensing status of financial institutions engaged in deposit-taking activity regulated by Bank Negara Malaysia or individuals and companies engaged in investment activity regulated by the Securities Commission at their websites www.bnm.gov.my and www.sc.com.my respectively.
Members of the public are reminded that they should only place deposits and invest with parties licensed by the authorities so that they are accorded the protection under the banking and securities laws. Unlicensed operators may disappear overnight leaving investors without the ability to recover their investments or seek redress against any persons connected with the scheme.
It is important for the public to be alert and responsible in making investment decisions as the internet offers easy access for unscrupulous persons to lure unsuspecting victims to part with their monies. Investors are urged to verify the legitimacy of schemes which offer too-good-to-be-true returns or investment opportunities involving above-market rates of return and zero to low risk. They must obtain all relevant information before parting with their money over the internet.
When in doubt, the public should check with Bank Negara Malaysia, the Securities Commission or other relevant authorities on the licensing status of the local and foreign company before depositing their money or making any investment decision.
Members of the public are also advised to alert the authorities immediately if they come across any suspicious websites, e-mails or any information on the Internet relating to investment advice and services and deposit taking activities. They can contact the Securities Commission and Bank Negara Malaysia at:
Complaints Department, Securities Commission
Tel: 03-6204 8999 / 03-6204 8777
Fax: 03-6204 8991
E-mail: aduan@seccom.com.my
Bank Negara Malaysia
Tel: 03-2691 0824 / 2692 6482 / 2698 2810 / 2694 2143
Fax: 03-2698 7467
E-mail: info@bnm.gov.my

Posted by moneySIFU > 2016-05-09 21:12 | Report Abuse

Oh, paperplane is here to lansi lanyong.

Posted by Up_down > 2016-05-09 21:13 | Report Abuse

List Of Unauthorised Websites / Investment Products / Companies / Individuals

not authorised nor approved under the securities laws to deal in securities, trade in futures contracts, advise on corporate finance, provide investment advice, financial planning and/or fund management services related to securities or futures.

The public is advised not to make any investment with companies/individuals that are not licensed or approved by the SC. Offers often come in the guise of seemingly attractive investment opportunities or schemes and may also be camouflaged as direct selling or business opportunities.

Please take note that this list is not exhaustive and only serves as a guide to investors. The list will be updated periodically with names removed or added on. The public is advised to also check with other relevant agencies (e.g. Bank Negara Malaysia, Ministry of Domestic Trade and Consumer Affairs, Companies Commission of Malaysia) as to the legitimacy of companies or websites which may not appear or have been removed from this list. Further, if you come across any website bearing names which are similar or a variation of the names listed here undertaking the activities described above, you are advised to ensure that the individual/entity, activity or product concerned has the required approval or license

If you require any clarification or wish to lodge a complaint, please contact us at 603-62048999 or e-mail us at aduan@seccom.com.my

Members of the public who come across any suspicious websites, as well as e-mails or any information on the Internet relating to investment advice and services, may alert the SC at the contact number or e-mail above.

Bank Negara Malaysia also receives information on, and looks into, companies and individuals operating unlicensed activities. To access BNM’s Financial Consumer Alert page, click here http://www.bnm.gov.my/index.php?ch=en_financialconsumeralert&lang=en.

Posted by Hiu Chee Keong > 2016-05-09 21:14 | Report Abuse

Icon888, so do you know which law and the exact article and words by words that say robbing a bank is illegal ? If not, is that means you are not qualify to say robbing a bank is illegal ? Come on, common sense, when you read it in different reliable official sources like the star newspaper, sinchew, nanyang, and from the authority press release, you know it is true, you don't need to know exactly which articles and words by words of the law. Just common sense. And now even investor.com put in the disclaimer in every posts that recommended shares, prove my point is valid, not just simply play-play.

Posted by Up_down > 2016-05-09 21:15 | Report Abuse

Common features of websites providing investment advice/services illegally that have been shut down by the SC







These websites may offer ‘exotic’ investment schemes (claimed to give high return with low risk) and use ‘posh office addresses’.
Proprietors, who claim themselves to be ‘investment experts’, would highlight the ‘excellent track record’ of the company and also include testimonials from ‘clients’ to convince investors. Identity of the proprietor is usually not available for verification.
There is no reference to any licence for their activities of providing investment services and products. Some may claim that their activities do not require a licence.
Recommendations to buy/sell certain stocks and ‘advice/tips’ are delivered to clients via e-mail, Short Messaging Service (SMS), access to password-protected webpage or one-to-one or group meetings.
The proprietors may also advertise their services through indiscriminate use of e-mail messages and messages posted on various bulletin boards and Internet discussion sites.
Websites are professionally designed to resemble a legitimate business and may be equipped with real time stock prices, market commentary, market news and links to other financial websites.
Some of these websites may include free services such as basic tutorial about the capital market, e-books and access to chatroom/bulletin board.

Members of the public who come across any suspicious websites, as well as e-mails or any information on the Internet relating to investment advice and services, may alert the SC at email: NetWatch@seccom.com.my .


The public can ascertain the licensing status of an individual or company in the SC website. If in doubt, investors can contact the Licensing Department of the SC at tel: 03-62048000. Investors are also advised to visit the Malaysian Investor website at www.min.com.my for tips on smart investing.



SECURITIES COMMISSION
28 February 2005

Posted by paperplane2016 > 2016-05-09 21:19 | Report Abuse

Report icon8888 and i3 to sc??

Posted by Hiu Chee Keong > 2016-05-09 21:28 | Report Abuse

Maybe for some ego people just cannot accept others friendly reminded, they think they are always right. then just be it. here is investor.com, not lawyer.com ! when others talking, they want every detail of the laws to prove it, but when they posting, everything goes, no rule, no laws.... lol :D
- ok, you win, whatever you said is always right, you can ignore all the others here who mentioned exactly what courses you have to take, what module you have to pass in order to obtain the license, and ignore the pro here who confirmed this. You are free to believe whatever you want. Who cares anyway :D
- And remember next time when you mention any stocks, pls write down their company registered number, under exactly which law, which article it was established, otherwise who know you are also just talking empty on a stock that not even exist, lol :D

Posted by Up_down > 2016-05-09 21:29 | Report Abuse

Icon. I still have not found out the laws yet. Is it OTB in trouble for serving to his clients now?

Posted by stockmanmy > 2016-05-09 21:36 | Report Abuse

From up down posting, we know the SC will shut down unlicensed investment advisory service.

A remisier going around town giving investment advisory services, soliciting for subscription fees......

I will be more careful if I am him.



Better check with a lawyer or better still check directly with the SC.

Posted by Hiu Chee Keong > 2016-05-09 21:39 | Report Abuse

I am actually laughing while writing the comment, maybe some feel my post is direct refer to them, so they over-react. But my post is just a friendly reminded, not against anyone, i didn't mention anyone's name, and don't even know who supposed to be big shot here, it was the others readers that mentioned some names here in the comment, not me, i am neutral. And knowing that it is illegal is good enough for me, no need to throw the whole law book. but if anyone want it, it is up to you to call your lawyer :D

Posted by Icon8888 > 2016-05-09 21:42 | Report Abuse

Since you are so angry, give you a chance to revenge - fish out the relevant rules and regulation and paste it here, I will surrender myself to SC and ask them penalize me

Posted by Icon8888 > 2016-05-09 21:42 | Report Abuse

I am confident to challenge you, are u confident to accept my challenge ?

Posted by Icon8888 > 2016-05-09 21:48 | Report Abuse

In court of law, you can't simply say this say that, everything has to go according to exact wordings of the relevant laws. Otherwise there is no case.

We are in Malaysia, not communist China

Posted by paperplane2016 > 2016-05-09 21:48 | Report Abuse

Chee keong, someone too ego to accept your friendly reminder., they thibk they are best, ego, lansi.

Posted by Icon8888 > 2016-05-09 21:53 | Report Abuse

Chee Keong pulling his hairs now... I think he want to pull out my beard, if he can

Posted by Icon8888 > 2016-05-09 21:53 | Report Abuse

I miss Coldrisk mah

Posted by stockmanmy > 2016-05-09 21:54 | Report Abuse

Chee Keong behavior is faultless.

Posted by Icon8888 > 2016-05-09 21:58 | Report Abuse

Hmmmm.... Maybe he went to the loo...

Posted by VenFx > 2016-05-09 22:06 | Report Abuse

Okok, Hiu is here to provide his very valuable Legal Aid here .
While, Desa aka stockmanmy to be i3 investment consultancy.
Looks like i3 are crowded with necessary adviser.
So, open your questions ... hahaha

Posted by GODinvest > 2016-05-09 22:10 | Report Abuse

Cartoon hentai fan i con 8888 . Photo show your record prove you are clean. (What Calvin tan post)

Posted by Hiu Chee Keong > 2016-05-09 22:17 | Report Abuse

Icon888, i am not that childish to challenge anyone to anything here, like i say, it just a friendly post to share, and as other users also has help to point out exactly what licensed is needed and how to obtain it, and investor.com also kind enough to put in disclaimer in all the recommended posts now though the author ignore it. That is good enough, by sharing, we are learnt something new, want to challenge, go MMA instead. Whether you are free, get arrest, or surrender yourself, do i care ? The post is not about you at all.

Posted by Icon8888 > 2016-05-09 22:18 | Report Abuse

Hiu thought I flamed him

Posted by Hiu Chee Keong > 2016-05-09 22:22 | Report Abuse

Ks55, wow, you are back, so still want to talk about your 15million net worth ? Lol.

Posted by Hiu Chee Keong > 2016-05-09 22:29 | Report Abuse

Ks55, oh shit, so we are not supposed to tell anyone that robbing a bank, over speeding, stealing, inside trading is illegal bcos only lawyer can say so ? so, by the way, in icon888 theory, you should cite exactly which law, which article, the exact words in the law book ....:D

Posted by Hiu Chee Keong > 2016-05-09 22:31 | Report Abuse

Icon888, i though you are the one who think i am against you and flame you. I am not the one who issue challenge to anyone.

Posted by Up_down > 2016-05-09 22:32 | Report Abuse

1. What are the three categories of Registered Representatives?
Registered Representatives are divided into three categories :

• Trading Representative (TR) who can accept clients’ orders for securities (order taking) and execute securities trades;

• Introducing Representative (IR), who is able to introduce or refer prospective clients to or market the services of the participating organisation (PO) he/she represents or acts for; and

• Marketing Representative (MR), who undertakes marketing of fund management services and provide client support services.

5. Can an individual be registered for more than one activity at the same time?
Ans: A Registered Representative can only undertake one activity at a time either as TR or IR or MR.

Posted by Up_down > 2016-05-09 22:37 | Report Abuse

4. What are the permitted activities of Registered Representatives?

Ans: A TR can only carry out execution of trades in securities. As such, he/she is not allowed to give advice, persuade, induce or make specific recommendations on securities trades.

An IR can introduce or refer prospective clients to or market the services of the PO he/she represents or acts for. He/she is not allowed to take clients’ orders, execute trades, make specific recommendations or give transactional advice.

A MR can carry out marketing of fund management services and provide client support services. Scope of permitted activities by MR may include:
• Marketing and Promotional activities – conducting presentations and providing information on fund management services and wholesale products
• Business development – develop business relationships, communication to new or existing clients and distribution channels
• Client servicing - reporting to clients on fund management activities including performance.

Posted by Hiu Chee Keong > 2016-05-09 22:43 | Report Abuse

Ks55, yes monkey can act as monkey king, like bragging about his 15million net worth. 70k is just one of my many trading accouts only, don't be lansi in front of me, your 15million just a joke for me also. At what age are you, only 15million ? talking big but not even have a proper profile, a rubbish talk, you also nobody to give comment. Dont be lansi.

Posted by stockmanmy > 2016-05-09 23:05 | Report Abuse

Warning


Disclaimer clauses can protect you against civil suits.

But cannot protect you against criminal prosecution by the SC if laws are broken.

Posted by Fam Jenny > 2016-05-09 23:05 | Report Abuse

Some are showing off their knowledge here.

Posted by stockmanmy > 2016-05-09 23:15 | Report Abuse

If sharing knowledge is called showing off......then let it be showing off.

Posted by Up_down > 2016-05-09 23:22 | Report Abuse

Extracted:

CAPITAL MARKETS AND SERVICES ACT 2007

Stock market manipulations
176. (1) Subject to section 180, no person shall effect, take part in, engage in, be concerned in, or carry out, either directly or indirectly, any number of transactions in securities
of a corporation, being transactions that have, or are likely to have, the effect of–
(a) raising;
(b) lowering; or
(c) pegging, fixing, maintaining or stabilising,
the price of securities of the corporation on a stock market in Malaysia, for the purpose which may include the purpose of inducing other persons, whether or not another person is induced,
to acquire or dispose of the securities of the corporation or of a related corporation.

(2) A reference in this section to a transaction, in relation to securities of a corporation,
includes–
(a) a reference to the making of an offer to sell or purchase such securities of
the corporation; and
(b) a reference to the making of an invitation, however expressed, that expressly or impliedly invites a person to offer to sell or purchase such securities of the corporation.


False or misleading statements, etc.
177. A person shall not make a statement, or disseminate information, that is false or misleading in a material particular and is likely to induce the sale or purchase of securities by
other persons or is likely to have the effect of raising, lowering, maintaining or stabilising the market price of securities if, when he makes the statement or disseminates the information–
(a) he does not care whether the statement or information is true or false; or
(b) he knows or ought reasonably to have known that the statement or information
is false or misleading in a material particular.
Fraudulently inducing persons to deal in securities
178. (1) A person shall not–

(a) by making or publishing any statement, promise or forecast that he knows to be misleading, false or deceptive;
(b) by any dishonest concealment of material facts;
(c) by the reckless making or publishing, dishonestly or otherwise, of any statement, promise or forecast that is misleading, false or deceptive; or
(d) by recording or storing in, or by means of, any mechanical, electronic or other device, information that he knows to be false or misleading in a material particular,
induce or attempt to induce another person to deal in securities.
(2) In a prosecution for an offence under paragraph (1)(d), in relation to the recording or storing of information, it shall be a defence if the defendant establishes that when the
information was recorded or stored, he had no reasonable grounds for expecting that the information would be available to any person.

Posted by Up_down > 2016-05-09 23:24 | Report Abuse

Extracted:

CAPITAL MARKETS AND SERVICES ACT 2007


Penalty for offence under Subdivision 1
182. A person who contravenes section 175, 176, 177, 178, 179 or 181 commits an offence and shall be punished on conviction to imprisonment for a term not exceeding ten years and to a fine of not less than one million ringgit.

Posted by Up_down > 2016-05-09 23:33 | Report Abuse

Anybody with the law background can help to interpret the above clauses?

Posted by Kasseylim > 2016-05-09 23:35 | Report Abuse

Can someone help to report Icn8888 to SC? He deserve 10 years behind bar

Posted by Up_down > 2016-05-09 23:43 | Report Abuse

Jialat.....It depends on SC whether they want to take action or not. Don't play play!

Posted by stockmanmy > 2016-05-09 23:50 | Report Abuse

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

Posted by Up_down > 2016-05-09 23:53 | Report Abuse

He would be in trouble only if he simply publishing an article misleading the public.

Posted by stockmanmy > 2016-05-10 00:01 | Report Abuse

misleading the public.

if misleading the public is illegal, there will be no government in Malaysia.

Posted by Up_down > 2016-05-10 00:03 | Report Abuse

Don't be naive la. They have the right but enforcement is an entirely different issue. If you pro-BN or Ikan bilis, they won't waste their time.

Posted by Up_down > 2016-05-10 00:46 | Report Abuse

I would thank Hiu. He has initiated this topic and help us to learn something new.

Posted by Yippy68 > 2016-05-10 03:55 | Report Abuse

Everybody have the right to comment. Ks55 , without the amateur to contribute, to participate, all the expert have to eat sand.

Posted by Hiu Chee Keong > 2016-05-10 06:18 | Report Abuse

Ks55, is not a lawyer either, he is bragging about his 15million worth and his so call reit 400k dividend.
Forget about this egotistic booster,
He is also nobody to give comment
And his post is rubbish as well.

Posted by skyz > 2016-05-10 08:45 | Report Abuse

authorities wont take action la. u c the big old conman KYY also still roaming free although a 7 week delays in notification in share transaction lately. Bursa is a just a harimau tak bertaring. even UMA issued also wont be bothered.

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

when is giving a personal opinion on shares contravening the laws? If you are running an advisory BUSINESS, then you are in trouble without the relevant licences.

Posted by murali > 2016-05-10 10:28 | Report Abuse

WTF....video editor at Astro cannot invest in stock mkt and make good money ah? I sell roti also can make profit as good as 20 years remisier Sifu OTB.....

Posted by Up_down > 2016-05-10 10:29 | Report Abuse

Don't be little other la.....

Posted by murali > 2016-05-10 10:38 | Report Abuse

It could be something with his brain, not his job...

Posted by Up_down > 2016-05-10 10:53 | Report Abuse

Is it OTB against the laws for offering his paid service to the public now ?

Extracted:

CAPITAL MARKETS AND SERVICES ACT 2007

Powers concerning compliance with conditions of licence, etc. by licensed persons 356.
(1) Where any licensed person–

(a) contravenes or fails to comply with, observe, enforce or give effect to any requirement or provision of this Act, any securities laws, written notice, guidelines, any condition of, or restriction on, a licence granted under or pursuant to this Act; or

(b) performs or omits to perform any act in respect of any business carried on by the licensed person pursuant to a licence granted under or pursuant to this Act, that is likely to–

(i) jeopardise the interests of the clients of the licensed person; or
(ii) be prejudicial to the public interest, that licensed person has committed a breach.

(2) If a licensed person has committed a breach and the Commission is satisfied that it is appropriate in all the circumstances to take action against that licensed person, the
Commission may take any one or more of the following actions:

(a) direct the person in breach to comply with, observe, enforce or give effect to any requirement or provision of this Act, any securities laws, any guidelines, written notice, any condition of, or restriction on, a licence granted under or pursuant to this Act, as the case may be;

(b) impose a penalty in proportion to the severity or gravity of the breach on the person in breach, but which in any event shall not exceed five hundred thousand ringgit;
(c) reprimand the person in breach;
(d) require the person in breach to take such steps as the Commission may direct to remedy the breach or to mitigate the effect of such breach,including making restitution to any other person aggrieved by such breach.

(3) The Commission shall not take any action under subsection (2) without giving the person in breach an opportunity to be heard.

(4) For the purposes of paragraph (2)(d), in the determination of whether restitution is to be made by a person in breach, the Commission shall have regard to–
(a) the profits that have accrued to such person in breach; or
(b) whether any person has suffered loss or been otherwise adversely
affected as a result of the breach.

(5) [Deleted] [Del. Act A1406/2011]

(6) Nothing in this section shall preclude the Commission from taking any of the actions that it is empowered to take under this Act or any securities laws against the person
in breach.

(7) Where a person has failed to pay a penalty imposed by the Commission under paragraph (2)(b), the penalty imposed by the Commission may be sued for and recovered as a civil debt due to the Government of Malaysia.

(8) Without prejudice to any other remedy, where a direction under paragraph (2)(d) had required the person in breach to make restitution in the form of monetary payment, and the person in breach fails to pay the restitution, the Commission may sue for and recover the restitution as a civil debt due to the persons aggrieved by the breach.