Ignorance is not an excuse. But, athis age, he could probably cover his ignorance....get a cert from a doctor certifying that he has been suffering Alzheimer.

Some more part of his funds are managed by OTB. It is very obvious a modus operandi targeting Ikan bilis to make a good killing.

Accumulating share secretly when the share prices stay low. Launching heavy promotion publicly through Internet and seminars. Breaking the rules by delay reporting of his disposal when he was a substantial shareholder. Nut Also know his modus operandi la.

Tan lucy. You are right. If ‘indirect shareholding‘ is used in business world, it would mean shares are indirectly belongs to someone. In this article, it means that KYY‘s wife, son, daughter, relatives are all indirect belongs to (or owned by) KYY. Haha.

Sifu's stop loss rules:

1. VVIP - price before dropping below 20 weeks EMA
2. VIPs - price drops below 20 weeks EMA
3. Subscribers - price drops below 200 days SMA

Posted by murali > May 11, 2016 10:38 AM | Report Abuse

Sifu's stop loss rules :

Any rule is triggered, you can cut loss.
1. The price drops below 20 weeks EMA in WEEKLY chart
2. The price drops below 200 days SMA
3. There is no growth in last 2 quarter results

If you feel uncomfortable with rule 2, you can use rule 1.

I am not short term investor, I use rule 2.

Murali. You suggest him to kick off supplying free wagyu in the coming seminar to be held in JB on 14 May 16. Haha

MoneySifu. Thanks for bringing up the headline to the public. We can't stand this shark keep exploiting ikan bilis for dealing in securities unscrupulously with ignoble intention.

This blogger is pretending to be naive by putting the blame to complex paperwork for substantial shareholder, remisers did not helping Koon.... He think readers are gullible.

Obviously, this Chinese blogger side Koon. Is it we call this positive thinking or PLP?

Koon discloses big stake buy in Focus Lumber after 4 weeks

http://www.thestar.com.my/business/business-news/2016/05/11/koon-discloses-substantial-stake-buy-in-focus-lumber-after-4-weeks/

We don't want to judge them. Let SC do a proper investigation and judge both of them.

Murali. He is hiding now. If he come out to make more noise, people would report him to SC for being an unlicensed advisor.

VS, Liihen, Focus lumber, Canone....He has involved at least 4 campanies?

The government agencies won't interested if the businesses is small. When the business has grown 'big' enough, he must have a valid license, pay GST, income tax, filling....He is required to comply legal obligations.

Imagine what would happen when all the substantial shareholders don't follow the law and report of dealing in securities as they wish. Who dare to invest in KLSE ?

It's ok so long as they are playing within the rules of the game. How can a person without a license to provide paid services to the public? If no law to control such activities, Ah Too, Ah Kau, Ah Beng also can provide such advisory services. It could mess up the whole investment environment. SC should look into cases of those unlicensed service providers.

Nobody is interested to log a complain to SC if he sold his shares without taking part in share promotion activities. It just he is too greedy to grill Ikan bilis. That's what we really can't stand on him.

Thank you soojinhou. We are waiting SC to launch missile targeting him.

Icon8888. You got so many followers. Apply advisory license to provide paid service to VIP clients....Haha

Is it the losers should be proud for such donation? cause there are an indirect contributor.

Stockmanmy. What if he doesn't have any valid license to provide such paid services?

May be Anti-BN fellow is put on priority.

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.

No worry unless you do blogging or making false statements to manipulate the share prices and caught red handed by SC.

Is it meant that those who have been suffering losses as a result relying on OTB's advice paid service are able log a complaint to SC and claim damages from him?

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.

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

Fogging has gone with the wind...The main reason is he doesn't have to worry much for his blogging now. HaHa

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

Probably Bursa/ SC will launch a missile to both of them later.

The Star has landed a bomb on both of them.

Icon is going to take over the role of Uncle Koon and OTB in i3. Kyy and OTB need to take a break to avoid publicity.

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.

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

Make sure your articles supported with real facts to justify your claims. Haha!

Double check of your article probably before publishing to cover your backside.

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

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

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.

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.

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.

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.

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

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

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.

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

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.

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.

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

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.