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.

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.

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.

According to Annual Report 2016, KYY is a substantial shareholder of Focus Lumber with his direct shareholding of 6,931,000 shares or 6.72% (as at 31 Mar 2016). Did he make a proper disclosure during the period of acquiring?

There are many ways to make money to feed the greed. But making money by exploiting others at an unethical ways and against the laws may give problems to the society. Who can stand to play with a man who violent the rules openly in the same level of playing field? Somemore, he is so rich....big bullies to Ikan bilis.

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

It could be late for him to erect a Chinese Wall now.

Anti-BN, 自己抓蟲入屎窟...水洗不清囉.

Jialat Koon if he has reported falseful information and delay filing. If the falseful information is confirmed then it may lead to share prices manipulation.

sostupid. Good point. You are meticulous. SC should start start investigation.

We are here to suspect that share prices manipulation was happened and conducted by a syndicate. We hope Securities Commission would step in to investigate if there is any illegal activities has been going on. We want the action from government agency to return the justice. Thank you.

Securities Commission should probe into Koon and OTB in securities dealing whether shares manipulation is actually happened or not in order return a justice to them.

The situation is getting clearer.. In the late disclosure securities dealing episode, .Koon, the master and O is tagged 幫兇 to milk Ikan bilis.

Soojinhou. Bravo! Bursa will take actions one cause uncle doesn't stand on BN side. They may take this opportunity to grill him.

He has been milking 清頭子 in a very unethical way. This uncle is really really noble man.

He and his gangs purposely circumvent the disclosure rules in many counters. Super investor? Pui! tiuniaseng

Good job! Bursa won't care much if no complaint is logged. There are too many companies for them to monitor. It's time to expose more hidden unscrupulous dealings.

If you are famous and rich and you still want to do something hanky panky to make money to feed your egoism, go to seek for higher class advisers to set up a complex structure before dealings. If you are stingy to pay for the fees, then a landmine would strike somewhere.

If he operate a trust fund then we can't deny that his role is seen to be transparent without confilct of interest. The Action must louder than words. No mater how you twist and turn, you role is still apparently compromised ...we are not born yesterday. There are many old birds here....

Adviser problem la. How can you ask uncle, 82 years old man to do the filing of diposal. All those job handle by the adviser staffs ma.

Not bad from FOC publication on main stream newspaper. They are more famous (notorious) now after exposing their unacceptable shares dealing in investment community. Call a media conference to defend la... if not happy, go to sue the Star lor.

Murali. I think he has act very very fairly. He treats VVIP, VIP, normal subscribers really really equality. All because he is a very 'honest' businessman. I trust he does so. In reality(business context), it is such myth exist of treating all clients equally without any priority? If you really do the business before you would know la. Haha

It's simple. Wrong channel.

I4investor. Exactly. He used to say money can't bring along into the coffin. What for to make so much money by loosing his trust to the public? People might understand if he were young but at his age still wanna con Ikan bilis. That's really bad.

With his wealth at the age 82, he is supposed to live in a very comfortable life and focusing in charitable work. He would attract a lot of attention from the public for his kindness and accumulating good karma. But the 'money' now mess him up. He dare to come to so low to make another 100 million. What is the different between having an extra 100 million at his age. Pity on him.

It is a hot topic in town now. Is it The Star helping uncle Koon to promote VS?

' winning at all costs ' is clouded his mind. He just wanted to suck money out of Ikan bilis at whatever means like disobey Bursa rules and doing promotion in an moral unacceptable manner.

Ganasai. He is either a naive guy or self delusion or refuse to understand or plp person. cant get through one.

we need more self delusion people in the market to make it an attractive place for killing. keep it up and dont give up.

tony. He is too naive la. that‘s plp also can‘t join uncle....different channel ma. He is more suitable to take the distribution from uncle.

probability. wow! they have established such a good sytem attracting gullibles to take their distribution. I did not know about this is actually happened here. thanks.

sherlock. Nice one. His action speaks louder than words.

What Uncle is enjoying now:
1. Promotion of stocks publicly with apparent evil intention (morally unacceptable) and was caught red handed.
2. Failure to obey Bursa substantial shareholder disclosure rules.
3. VIP privilege in i3. No comment is allowed his articles.

Anymore?

He has been posting many articles not giving UMNO face. It is likely Umno takes this chance to screw him.

2016v. The problem is he purposely not to comply Bursa game rules. Making money whatsoever means is the only thing in his life. He could be above the law ma. Possible of RM 1 million fine? sup sup water la.