The Securities Commission (SC) said they should also check its investor alert list, which is constantly updated to warn investors of companies and individuals found to be providing investment services without a licence, or those that are involved in scams.

In reference to two company officials who were convicted today for such illegal activities, it stressed that dealing in derivatives is a regulated activity and a licence is required.

Two former officers of Jalatama Management Sdn Bhd have been sentenced to prison terms and a fine for unlawful dealings in derivatives.

The duo – Su Eng Kooi and Yap Choong Seong, both aged 47 – were found guilty of two charges each under Section 58(1) of the Capital Markets and Services Act (CMSA) 2007.

Su and Yap, who were first charged on July 5, 2017, were sentenced to a year’s jail and a fine of RM1 million each on each of the two convictions. The jail sentences are to run concurrently.

A person who has been found guilty under Section 58(1) of the CMSA is liable to a fine of not more than RM10 million or a jail term of not more than 10 years or both.