Malaysia SC Issues Warning Against Unauthorised Companies

The Securities Commission Malaysia (SC) has updated the Investor Alert List that contains the list of unauthorised websites, investment products, companies and individuals.

"Please take note that this list is not exhaustive and only serves as a guide to investors prior to making any investment decisions,"the regulator stressed.

The following person(s)/entity(ies) was/were added to the list:

• ​Potential clone entity – Syarikat Al-Ayuni

• ​Potential clone entity – Al-Arafah Trading

• ​Potential clone entity – Eastspring.malaysia

• ​Global Pro Finance / Global Pro Trader

• ​Global Pro Investment

In addition to Malaysia, regulatory agencies in other countries, such as New Zealand, regularly issue regulatory warnings. This week, the New Zealand's Financial Markets Authority (FMA) are concerned that primefirmtrade.com is involved in a scam.

According to the regulator, the entity is withholding client funds unreasonably. Clients are required to make a large sum payment for a "withdrawal code" to withdraw funds from their trading accounts.