The Labuan Financial Services Authority (Labuan FSA) has reiterated its commitment to maintaining the integrity of Labuan’s financial sector, stating a zero-tolerance policy for any legal violations. Following reports of a potential investment scam involving a licensed entity, Labuan FSA pledged to take decisive enforcement actions against those engaging in unlawful activities. These actions may include administrative penalties, business restrictions, license revocations, and delisting from the registry. The authority will also collaborate with other law enforcement agencies to pursue criminal prosecution when necessary. Labuan FSA emphasized that entities licensed under its regulatory purview must adhere to the highest professional standards and comply with all rules and regulations.
This statement comes in the wake of recent reports concerning an alleged investment scam involving a licensed entity under Labuan FSA’s jurisdiction. — Reuters picas a first-time user . Exclusively for Malay Mail readers: Use codeLABUAN, Jan 17 — The Labuan Financial Services Authority has reaffirmed its commitment to upholding the integrity of the Labuan’s financial sector, emphasising a strict zero-tolerance policy toward any legal breaches.
These enforcement actions may include administrative penalties, business restrictions, licence revocations, and delisting from the registry. “Entities licensed under our regulatory purview must adhere to the highest standards of professional conduct and comply with all rules and regulations,” the statement said.
The authority also advised the public to conduct thorough due diligence and seek professional financial advice before engaging in any financial investments.
Financial Misconduct Investment Scam Labuan FSA Enforcement Actions Regulatory Compliance
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