SC Issues Cease Order to Lendingstar

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

SC’s directive was issued on 23 July 2018 after an inquiry found that Lendingstar is not registered to operate a recognised market and is 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 at 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 by contacting it at +603 6204 8999 or via e-mail at aduan@seccom.com.my.

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