Yesterday, the Securities Commission Malaysia (SC) made it clear :
Anyone must be licensed giving
Investment tips,
Financial planning, or
Capital market advice .

If not, the punishment is severe:

• RM10,000,000 fine
• 10 years’ jail
• Or both

But as an approved auditor and licensed tax agent, I need to say this :

While SC protects investors, SMEs are still getting hurt every day by fake “auditors” and unlicensed tax agents.

On and off, I meet the same heartbreaking cases:

“Boss, LHDN sent me a letter… my tax agent disappeared.”
“Bank says my audit report is not valid… but I already paid.”

All caused by people with no licence, no accountability, no qualification yet they operate freely, advertising cheap fees and “one-stop services”.

Meanwhile real professionals go through:
Exams
CPD
Licence renewals
Regulatory oversight

And still watch SMEs fall into traps.

SC has taken a strong step.
Now it’s time for MIA and SSM to do the same

If you are unsure whether your service provider is legitimate, you can verify them easily :

Licensed Audit Firms (MIA)
https://mia.org.my/members-firm-search

Qualified Accountants (MIA)
https://mia.org.my/members-firm-search

Licensed Tax Agents (IRB)
https://mycukai.treasury.gov.my/portal/carian-lhdn-public

PS : Authored by Mr Koh Teck Peng, the group principal, in his personal LinkedIn post