Hap2py: SC Issues Warning Against Unauthorized P2P Platform
The Securities Commission Malaysia (SC) has issued a warning against investing in or dealing with Hap2py, an unauthorized peer-to-peer financing platform in Malaysia.
Despite SC’s actions, the platform continues to solicit Malaysian investors through various means. The platform is operating as a P2P platform without SC’s authorization as a Recognised Market Operator (RMO), constituting an offense under the Capital Market Services Act 2007.
No deal Hap2py
Investors are urged to only deal with registered and authorized RMOs to ensure protection under Malaysia’s securities laws.
“The SC will not hesitate to take further and/or any other appropriate actions, including enforcement actions, as it views this non-compliance seriously.”
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