Enforcement Actions

Information on formal regulatory and enforcement actions taken by MAS for breaches of the Securities and Futures Act (Cap. 289), the Financial Advisers Act (Cap. 110) and the Insurance Act (Cap. 142) is published on this page. The information will remain on this page for a period of five years from the date of publication except for prohibition orders which are still in force after the expiry of the five year period. Information on such prohibition orders will remain on this page until they cease to be in force.

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26 Jul 2012

MAS Reprimands Alicia Kang Yee San for Contravention of (1) Paragraph 22(d) of the Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N07"]; and (2) Paragraph 13(c) of the Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N13"]

Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N07"], Paragraph 23, and Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N13"], Paragraph 14

26 Jul 2012

MAS Reprimands Aon Consulting (Singapore) Pte Ltd for Contravention of (1) Paragraph 23 of the Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N07"]; and (2) Paragraph 14 of the Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N13"]

Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N07"], Paragraph 23, and Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N13"], Paragraph 14

24 Jul 2012

MAS Reprimands: i) Raghavendra Manjunatha Rao; ii) Kogila Durai (Formerly Known as Kogilavani D/O Sinnadurai Appanna Mrs Vickneshwaran Kogilavani); and iii) Abdul Nazar Bin Syed Ibrahim for Contraventions of Section 7(1) (Now Repealed) of the Financial Advisers Act ["FAA"]

Financial Advisers Act, Section 7(1) (Now Repealed)

17 Jul 2012

MAS Reprimands OANDA Asia Pacific Pte Ltd for Contravention of Section 28A(2) of the Monetary Authority of Singapore Act (CAP. 186) ["MAS Act"]

Monetary Authority of Singapore Act, Section 28A(2)

13 Jul 2012

MAS Reprimands Evia Capital Partners Ptd Ltd for Breach of the Securities and Futures (Licensing and Conduct of Business) Regulations (CAP. 289, Regulation 10)

Securities and Futures (Licensing and Conduct of Business) Regulations, Second Schedule, Paragraph 5(7)(d)

05 Jul 2012

MAS Imposes Composition Amount of $35,000 on MAA Financial Planners Pte Ltd (“MAA”) for breaches under the Financial Advisers Act (Cap. 110) (the “FAA”)

Financial Advisers Act, Sections 13(1) and 58(1)

27 Jun 2012

MAS Reprimands Mr Lim Ming How for Contravention of Section 23B(1) of the Financial Advisers Act (CAP. 110) ["FAA"] and Section 99B(1) of the Securities and Futures Act (CAP. 289) ["SFA"]

Section 23B(1) of the Financial Advisers Act and Section 99B(1) of the Securities and Futures Act

12 Jun 2012

MAS Reprimands Managementplus (Singapore) Pte Ltd for Breach of the Securities and Futures (Licensing and Conduct of Business) Regulations (CAP. 289, Regulation 10)

Securities and Futures (Licensing and Conduct of Business) Regulations, Second Schedule, Paragraph 5(7)(d)

11 Jun 2012

MAS Imposes Composition Amount of $27,000 on Merrill Lynch International Bank Limited (Merchant Bank) for Contravention of Section 99B(3)(a) of the Securities and Futures Act


08 Jun 2012

MAS Reprimands The Royal Bank of Canada Entities for Contravention of Section 99B(3)(a) of the Securities and Futures Act and Section 23B(3)(a) of the Financial Advisers Act.

Securities and Futures Act, Section 99B(3)(a), and, Financial Advisers Act, Section 23B(3)(a)

Last Modified on 26/11/2016