Page 53 - SC SCAR 2023 ENGLISH Flipbook
P. 53

                                  PART 2 REGULATORY PERFORMANCE AND OUTCOMES
 • Enhancement to the SC’s Investor Alert List page to make it more robust, dynamic and mobile friendly.
• Development of a tool within SC’s website called the ‘Investment Checker’ which serves as a one- stop-center for the public to check and verify on the legitimacies of entities and individuals.
• Engagement with Jabatan Kemajuan Islam Malaysia (JAKIM) to include anti-scam themed Friday sermon ‘Jerat Serupa Jerami’ for mosques in the Federal Territory which was live telecasted on Radio Televisyen Malaysia (RTM).
• Development of ‘Scam Meter’ page within the SC’s website to help identify and increase awareness of common scam indicators in investment opportunities.
• Four radio and two TV interviews were done to spread awareness on scams and unlicensed activities.
Heightened Concerns on Activities by Unlisted Public Companies and Entities Offering Cash Trust Products
In addition to scams and unlicensed activities, the SC also observed certain possible adverse conduct by UPCs that typically offers preference shares and entities offering Cash Trust products. The SC’s review suggests that there are concerns on possible breaches of the securities laws including offering of shares by UPCs to retail investors without registering a prospectus with the SC.
In this regard, several investigations have been initiated by the SC involving UPCs and entities offering Cash Trust products. These include possible breaches of section 58 (requirement for capital market services license), section 232 (requirement to register the prospectus in relation to securities) and section 179 (use of manipulative and deceptive devices) of the CMSA.
Specifically on UPCs, the SC is also concurrently reviewing its current regulatory framework to consider introducing the requirement for assessment and due diligence to address any gaps that is detrimental and harmful to the investors.

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