I wrote this guide for anyone in Malaysia who has been approached by someone claiming to be a remisier or investment adviser, and wants to verify this before handing over a single Ringgit. It is also for existing clients who simply want to double check their own remisier, which I always encourage. This is the exact process I tell my own clients to follow.
Why This Matters More Than Ever
I have had clients come to me after losing money to people who called themselves ‘remisiers’ or ‘senior advisers’ on WhatsApp. These scams usually start friendly, sometimes with a real-looking profile photo and a story about a hot IPO or a guaranteed return.
None of these people were ever licensed. They simply borrowed the title because it sounds credible to Malaysians who have heard of remisiers through Bursa Malaysia or their own bank.
A five minute check on a public register would have stopped every single one of these cases before any money moved.
What a Licensed Remisier Actually Is
In Malaysia, a remisier is licensed by the Securities Commission Malaysia as a Capital Markets Services Representative’s Licence holder, specifically under the dealer’s representative category.
This licence is not something you can hold on your own. It must always be attached to a stockbroking firm, and that firm must itself be regulated to deal in securities.
If someone tells you they are ‘independent’ or ‘freelance’ and not attached to any firm, that is already a serious red flag. There is no such thing as a freelance remisier in Malaysia.
Step by Step: Checking the SC Register
Here is exactly what I tell clients to do, in order.
- Go to sc.com.my and use the SC’s Investment Checker, which searches licensed and registered persons and the Investor Alert List in one place, or look for the public register of licence holders. The wording and layout change from time to time, so just look for anything referring to checking licensed individuals or intermediaries.
- Search using the person’s full name as given to you, not a nickname or a shortened version. Some names are common, so also check the firm listed against the result.
- Confirm the licence status is active, not suspended, revoked or expired. A name appearing on the list does not automatically mean the licence is currently valid.
- Check the firm they are attached to. This should match exactly what the person told you. If they said ‘Malacca Securities’ but the register shows a different firm, do not proceed.
- Note down or screenshot the result with the date, in case you need it later for a report.
The part clients trip up on most often is step four. People sometimes remember the wrong firm name, or the person gives a firm name that sounds similar but is not the actual registered firm. Always match it word for word.
Also Check the Investor Alert List
Separate from the licence register, the Securities Commission also keeps an Investor Alert List of entities and individuals that the public has been warned about, usually because they have been operating without a licence or promoting unauthorised schemes.
This list is worth checking even if the person’s name does not appear on the licensed persons register at all. A blank search result and an actual listing on the Investor Alert List are two different things, and both are useful information.
If a company or individual appears on the Investor Alert List, treat that as a firm no, not a maybe.
Cross-Check the Firm, Not Just the Person
A licensed remisier is only half the picture. The firm they work for must also be a Bursa Malaysia participating organisation, meaning it is authorised to execute trades on the exchange.
This matters because your money should only ever be transferred to the stockbroking firm’s official account, the same one used for your trading and CDS account. It should never go into a personal bank account, even if the remisier says it is ‘just for now’ or ‘easier this way’.
| What You Check | What It Confirms | Where to Look |
|---|---|---|
| Licensed persons register | The individual holds an active CMSRL as a dealer’s representative | sc.com.my |
| Investor Alert List | Whether the person or entity has been publicly flagged | sc.com.my |
| Bursa participating organisation status | The firm itself is authorised to trade on Bursa Malaysia | Bursa Malaysia’s own resources |
| Bank account for payment | Money goes to the firm, not a personal account | Your account opening documents or your broker’s official website and app |
Red Flags I Tell Every Client to Watch For
Guaranteed or fixed monthly returns are not something any licensed remisier can promise you, because stock and unit trust investments carry risk by nature.
Pressure to act within hours, or urgency around a ‘closing soon’ opportunity, is a classic scam tactic designed to stop you from checking anything.
Never share your trading account password or OTP with anyone, including someone claiming to be your remisier. We never need it to place a trade for you.
Be cautious of private Telegram or WhatsApp ‘investment groups’ promising insider tips or coordinated buying. Licensed firms simply do not operate this way.
What to Do If the Person Is Not on the Register
If a name does not appear on the SC’s licensed persons register at all, stop all communication and do not transfer any money.
Keep screenshots of your conversations, any payment requests, and the search result showing no match. You can then lodge a report with the Securities Commission Malaysia or the police, and this documentation will help.
If you have already sent money, contact your bank immediately to ask about recalling the transfer, then file a police report the same day.
Common Mistakes to Avoid
Do not rely on a business card, a firm-branded email signature, or a photo of an ID badge as proof of licensing. These can all be faked easily.
Do not assume a large social media following or polished website means a person is licensed. Marketing skill has nothing to do with regulatory status.
Do not skip checking the firm name just because the individual’s name matched. Both need to check out together.
Do not transfer money to a ‘trading account’ that is actually a personal bank account, even temporarily.
Key Takeaways
- Every legitimate remisier in Malaysia holds a Capital Markets Services Representative’s Licence and is attached to a specific stockbroking firm.
- Search the person’s name on the SC Malaysia public register at sc.com.my and check that the firm listed matches what you were told.
- Also check the SC’s Investor Alert List for entities that have been publicly flagged.
- Confirm the firm is a Bursa Malaysia participating organisation and only send money to its official account, never a personal one.
- Guaranteed returns, urgency, requests for your password or OTP, and private investment groups are all warning signs.
- If the name is not on the register, stop immediately and report it to the Securities Commission or the police.
Frequently Asked Questions
Is checking the SC register free?
Yes, searching the Securities Commission Malaysia’s public register of licensed persons does not cost anything. It is a public tool meant for exactly this kind of check.
What if the remisier’s name matches but the firm is different?
Treat this as a serious mismatch and do not proceed with any transaction. Contact the firm they claim to represent directly to confirm whether that person actually works there.
Can a remisier legally ask me to transfer money to their personal account?
No, all payments for trading or investment should go to the stockbroking firm’s official corporate account, never to an individual’s personal bank account. Any request otherwise should be treated as a red flag regardless of the reason given.
How often should I recheck my remisier’s licence status?
There is no fixed rule, but it is reasonable to check once when you first open an account and again if you notice anything unusual, such as a change in firm name or contact details. Licence status can change, so an occasional recheck costs you nothing.
What should I do if I already transferred money to someone who turned out to be unlicensed?
Contact your bank immediately to ask about a recall or trace on the transfer, then lodge a police report the same day with all your evidence. Also report the individual and any details you have to the Securities Commission Malaysia so others are warned.
If you would like help verifying a remisier, opening an account, or just want a second opinion before you commit any money, feel free to reach out. I’m Dexter Chia, a remisier at Malacca Securities Sdn Bhd, and you can check me too: search for Chia Pern Lee, attached to Malacca Securities Sdn Bhd. You can WhatsApp me directly at +60169059789, or open an account with M+ Global using invitation code UBZQ.
Need Help With This?
If you are an M+ Online or M+ Global client and need help with this process, message me directly — I handle these requests for clients every week.
WhatsApp: +60169059789 | M+ Global Invitation Code: UBZQ
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
Want to invest in Bursa Malaysia or US markets? Contact Dexter Chia, an AI Driven Remisier who has 2,200+ clients at Malacca Securities Sdn Bhd (M+ Online / M+ Global). M+ Global Invitation Code: UBZQ | WhatsApp: +60169059789 | Why Choose Dexter?
