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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05 Jul 2013

MAS Reprimands RHB Bank Berhad, Singapore Branch for Contraventions of the Financial Advisers Act (CAP.110) [“FAA”]

Financial Advisers Act, Section 23B(3)(a), Notice on Recommendations on Investment Products ["FAA-N01"], Paragraphs 11 and 15, and Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers ["FAA-N07"], Paragraphs 23 and 27

03 Jul 2013

MAS takes Civil Penalty Enforcement Action Against Oh Kian Guan for Contravening the Law against the Employment of Manipulative and Deceptive Devices and the Requirement to Notify the Securities Exchange of Changes in Shareholdings

Securities and Futures Act, Section 201(b) and Section 137

02 Jul 2013

MAS Reprimands Bank of Singapore Limited for Contravention of Section 99B(3)(a) of the Securities and Futures Act (CAP. 289) ["SFA"]

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

04 Jun 2013

MAS Issues Reprimand to AAM Advisory Pte Ltd for Misconduct Pursuant to Section 97 of the Financial Advisers Act (Cap. 110) ["FAA"]

Financial Advisers Act, Section 97

17 May 2013

MAS Issues Reprimand to Aon Singapore Pte Ltd for Contravention of Paragraph 8 of the Notice to Insurance Brokers on Minimum Standards and Continuing Professional Development for Insurance Brokers and their Broking Staff ("MAS Notice 502")

Insurance Act, Section 64(2), MAS Notice 502

17 May 2013

MAS Issues Reprimand to Aon Consulting (Singapore) Pte Ltd for Contravention of Paragraph 8 of the Notice to Insurance Brokers on Minimum Standards and Continuing Professional Development for Insurance Brokers and their Broking Staff ("MAS Notice 502")

Insurance Act, Section 64(2), MAS Notice 502

17 May 2013

MAS Imposes Composition Amount of $4,900 on Global Financial Consultants Pte Ltd for Contravention of Section 48(1)(b) of the Financial Advisers Act (Cap. 110) (“FAA”)

Financial Advisers Act, Section 48(1)(b)

13 May 2013

MAS Varies Prohibition Order Against Tan Chong Koay for Contravening False Trading Provision

Securities and Futures Act, Section 197(1)(b)

18 Apr 2013

MAS Takes Civil Penalty Enforcement Action Against Mr Ang Kok Min for Insider Trading

Securities and Futures Act, Section 219(2)(a)

11 Apr 2013

MAS Reprimands Mr Toh Swee Beng for Contravention of Section 23B(1)(a) of the Financial Advisers Act (Cap.110) ["FAA"] and Section 99B(1) of the Securities and Futures Act (Cap.289) ["SFA"]

Financial Advisers Act, Section 23B(1)(a) and Securities and Futures Act, Section 99B(1)

Last Modified on 26/11/2016