KUALA LUMPUR – The Securities Commission Malaysia (SC) is holding its annual flagship investor education event, InvestSmart® Fest, on 23 till 25 October 2020. This is the seventh installment of the InvestSmart® Fest and for the first time, held virtually.
This year’s InvestSmart® Fest themed ‘Silap Labur Duit Lebur’ is also held in support of the Financial Education Network (FEN)’s inaugural Financial Literacy Month 2020.
The InvestSmart® Fest which is aimed to equip investors with the fundamentals in making sound investment decisions, showcases over 35 virtual exhibitors comprising capital market intermediaries, associations, regulators and equity crowdfunding, peer-to-peer financing and digital assets market operators.
Bursa Malaysia Berhad, Financial Planning Association of Malaysia and Malaysian Financial Planning Council are SC’s event partners for this year’s InvestSmart® Fest.
SC Chairman Datuk Syed Zaid Albar said that the InvestSmart® Fest is an opportunity for Malaysians to learn how to achieve financial well-being, while at the same time, raise their awareness on the proliferation of scams.
While planning early for retirement is essential towards achieving one’s financial well- being, the SC’s survey shows that Malaysians tend to start retirement planning only at a later stage in life, namely at about 44 years and above.
The SC added that it is important for all Malaysians to learn financial management and start saving and investing early, even if only in small amounts, in order to take charge of their finances.
On the increasing number of scams, the SC has intensified its anti-scam awareness campaign since last year. Up to end September this year, the SC has received 370 queries and complaints on illegal investment schemes as compared to 317 for the whole of last year.
SC Chairman Datuk Syed Zaid Albar highlighted that the SC has recently established an internal task force to focus on investigating and taking enforcement action against individuals behind these scams and urged the public to provide any information that they may have to assist the SC to fight against these scams.
The SC urges investors to exercise caution before investing in any schemes which are promoted on social media such as Facebook and WhatsApp Messenger.
Investors should make use of the various channels provided by the SC, such as the SC’s Investor Alert List, to verify the legitimacy of the investment schemes and the status of the individual who has approached them.
Investors may also contact SC at +603 6204 8999 or email: [email protected] if they have been approached to invest in schemes which promise returns which seems too good to be true.
InvestSmart® Fest 2020 features a strong line-up of industry experts sharing insights on investment opportunities, financial management, retirement planning, how digitisation affects investment decisions while reminding the public to stay vigilant when investing.
This year’s edition has so far attracted more than 5,000 participants virtually. The public can also benefit from free financial planning assessments with licensed financial planners under #FinPlan4u, that is being held online from 19 until 25 October 2020.
In addition, the public also stands a chance to win online vouchers via lucky draw giveaways and pop quizzes held throughout the 3-day event.