[ad_1]
KUALA LUMPUR (Dec 30): The Malaysian Securities Commission (SC) said today that it has issued a guidance note in response to the increasing number of inquiries and complaints received regarding various social media, chat rooms and messaging applications. that seem to provide specific actions. investment advice and recommendations to the public for a fee.
In a statement today, the SC said that its Guidance Note on the Provision of Investment Advice is intended to provide clarity to the industry and the public on the conduct that the SC considers to be within the regulated activity of providing advice. investment within the framework of Capital Markets and Services. Law 2007 (CMSA).
“The SC cautions members of the public not to deal with unlicensed investment advisers, as they could be defrauded or used as part of a market manipulation scheme,” the SC said.
“Investors are reminded to verify the licensing status of platforms, companies and individuals offering capital market products or services, including the provision of investment advice, before making any investment decisions.
“Anyone who conducts an investment advisory business without a license commits an offense under the CMSA punishable by a fine not to exceed RM10 million or imprisonment not to exceed 10 years or both, if declared guilty, “said the SC.
[ad_2]
