KUALA LUMPUR, Aug 2 — The Securities Commission Malaysia (SC) has directed Lendingstar Malaysia Sdn Bhd (Lendingstar) to cease all activities with immediate effect.

In a statement today, 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 it as required under the securities law.

"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 https://www.sc.com.my/digital/list_rmo/,” said the SC.

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

Members of the public who have come across any suspicious capital market activities and services, may alert the SC at +603-6204 8999 or e-mail at aduan@seccom.com.my. — Bernama