Asked by Anonymous
Basically it means
1) There have been some "complains" that is related to investment, but they are not licensed by MAS
2) There are promises of returns, but they are not financial advice
3) There is no recourse for you (much) from MAS.
4) The products are touted as "investment" mostly, yet does not have a formal structure for reporting of FY, etc etc that is governed and required in MAS rulings.
It means you gotta be careful with these companies! They might be fraud companies. I would stay away from them if I were you.
You should be extra cautous while dealing with such companies. As an investor you must be always be on alert. Do not get carried away by their claims of high returns with low risks.