CMDA opens for complaints regarding unregistered financial schemes

Capital Market Development Authority (CMDA) has asked people who have suffered losses through unregistered investments to submit complaints.

In a statement released on Thursday, CMDA said the Authority has been advising against investing in financial security schemes that are not registered with CMDA, and to submit complaint form to the Authority by 30 March if any party has suffered a loss in an unregistered scheme.

CMDA added that the Authority is currently investigating a number of such cases.

CMDA's statement comes at a time when former MP Alhan Fahmy - who has previously been investigated for running an unregistered scheme - has introduced another investment scheme.