777 Trades Research Investment Advisor Services
- Warnung MAS Singapore
Investor Alert List
Who may provide financial services in Singapore?
Persons providing financial services in Singapore are required to be licensed, exempt or otherwise regulated by the Monetary Authority of Singapore (MAS) to carry out activities regulated under the relevant laws administered by MAS.
The names of regulated persons in respect of the provision of financial services under the various Acts administered by MAS are listed on MAS' website in the Financial Institutions Directory.
Why should consumers not deal with unregulated persons?
Persons providing financial services in Singapore are required to be licensed, exempt or otherwise regulated by the Monetary Authority of Singapore (MAS) to carry out activities regulated under the relevant laws administered by MAS. The names of regulated persons in respect of the provision of financial services under the various Acts administered by MAS are listed on MAS' website in the Financial Institutions Directory.
Consumers seeking financial services are strongly encouraged to deal only with persons that are regulated by MAS. MAS' regulatory regime aims at safeguarding the interests of consumers by ensuring that only competent and professional persons may provide financial services. The laws administered by MAS also require disclosure of information on investment products being recommended to consumers. If a consumer chooses to deal with persons that are not regulated by MAS, he forgoes the protection afforded under laws administered by MAS, particularly if these persons are based overseas.
MoneySENSE has issued consumer alerts highlighting the common techniques used by persons that are not regulated by MAS to solicit business and the risks involved. These persons may target Singaporean consumers or overseas consumers by giving them the false impression that they are operating in Singapore. Some of these unregulated persons may sometimes use names similar to that of entities regulated by MAS. The alerts also inform consumers of the steps they can take to protect themselves. Click here to access the alerts.
The Investor Alert List
From time to time, MAS receives information on unregulated persons who have been mistaken as being licensed or authorised by MAS. Consumers should exercise care when dealing with these persons or with other persons acting on their behalf. Overseas consumers who receive solicitations by persons who claim to have an operation in Singapore should also exercise care and check if they are in fact dealing with persons who are regulated by MAS.
Below is a list of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorised by MAS. The information published on the Investor Alert List is based on what was known to MAS at the time of publication. The list is not exhaustive and will be updated.
If you suspect that an unregulated person has committed an offence of a commercial or fraudulent nature, you may wish to refer your case to the Commercial Affairs Department.
2018-05-31, Public warning by SC Malaysia against 777 Trades Research Services
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 email@example.com
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.