September 21, 2017

Stock regulator warns of bogus share trading courses

Yangon Stock Exchange opened on Wednesday at the corner of Merchant Street and Sule Pagoda Road in downtown Yangon.
Yangon Stock Exchange opened on Wednesday at the corner of Merchant Street and Sule Pagoda Road in downtown Yangon.

MYANMAR’S stock market regulator has urged potential traders to be wary about enrolling in courses that purportedly teach stock exchange trading tips, as none have yet been officially approved.
The country’s first stock exchange opened on Wednesday in Yangon, generating a flurry of excitement among business-minded individuals.
“We have heard reports about bogus training providers trying to deceive people into believing that investments can be made in foreign stock exchanges or gold markets,” said Dr Maung Maung Thein, chair of Securities and Exchange Commission of Myanmar (SECM).
In a message aimed at first-time investors, the top regulator suggested that advice be sought from the Ministry of Finance or the SECM before making any undertaking.
Stock exchange course providers will be scrutinised by SECM to ensure they adhere to a set of prescribed regulations standards.
During a public address last month, Dr Maung Maung Thein welcomed the dissemination of information about stock trading, but expressed concern that “a little knowledge is a
dangerous thing.”
Plans are underway to host a series of educative talks on the stock market and certified trading training courses will be encouraged to offer the public a foundation of investment knowledge, he added.
The Yangon Stock Exchange is backed by Japanese firms and has six listed companies to date: however trading will not commence until February next year.

 

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