SC issues cease order to Lendingstar

Back home, it is clear the Securities Commission (SC) has a few achievements to be proud of this year.

KUALA LUMPUR: The Securities Commission Malaysia (SC) has directed Lendingstar Malaysia Sdn Bhd (Lendingstar) to cease all activities with immediate effect.

In a statement, SC said the directive was issued on July 23, 2018 after an inquiry found that Lendingstar was not registered to operate a recognised market and was providing auto invest facilities without licence or registration from the SC, as required under the securities law.

To date, the SC has registered seven equity crowdfunding and six peer-to-peer platform operators. 

Issuers and investors are advised to exercise diligence and verify the legitimacy of platform operators before participating in any fundraising or investment activities. 

Investors may access the full list of registered platform operators www.sc.com.my/digital/list_rmo/.

Members of the public who have come across any suspicious capital market activities and services, may alert SC at [phone] or [e-mail].