MAS Reprimands Mr Koji Yamamoto for Contravention of Section 99B(1) of the Securities and Futures Act (CAP. 289) [“the SFA”]

1             On 7 November 2013, MAS reprimanded Mr Koji Yamamoto for contravention of section 99B(1) of the SFA.

2             Section 99B(1) of the SFA stipulates that no person shall act as a representative in respect of any type of regulated activity or hold himself out as doing so, unless he is, amongst others, an appointed representative, provisional representative or temporary representative in respect of that type of regulated activity, or a representative of an exempt person under section 99(1)(f), (g) or (h).

3             Mr Yamamoto has contravened section 99B(1) of the SFA as he had acted as a representative in respect of the regulated activity of dealing in securities from 1 January 2013 to 21 May 2013,  when he was not an appointed representative, provisional representative or temporary representative for that regulated activity, or a representative of an exempt person under section 99(1)(f), (g) or (h).

Any individual conducting any regulated activity under the SFA, on behalf of the individual’s principal, must be an appointed, provisional or temporary representative in respect of that type of regulated activity. This ensures that individuals conducting regulated activities are fit and proper and comply with the relevant requirements under the SFA.

Last Modified on 26/11/2016