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Abstract:Recently, the Securities Commission Malaysia (SC) has added two unauthorised forex brokers to its Investor Alert List. According to the updates, these companies are conducting suspicious capital market activities but without a licence from the SC. Here is the list:
1. Potential clone entity - Axim Trade Financial Management / Axim Trade Investment
• Possible clone operating an illegal investment scheme offering high returns e.g. return of RM 13,600 with investment of RM8,000
• Carrying on unlicensed capital market activities of fund management
2. Holdings Trading
• Illegal investment scheme offering high returns e.g return of RM 8,000 in 3 hours with investment of RM500
• Carrying on unlicensed capital market activities of dealing in securities
As a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market, the watchdog is here to inform investors that the two firms do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities under the Capital Markets and Services Act 2007.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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