MAS Reprimands Mr Danny Koh Yee Meng for Contravention of Section 99B(1) of the Securities and Futures Act (Cap.289) ["SFA"]

1          On 5 March 2014, MAS reprimanded Mr Danny Koh Yee Meng ["Mr Koh"] 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.

3          Mr Koh has contravened section 99B(1) of the SFA as he had acted as a representative of Coutts & Co Ltd in respect of the regulated activity of trading in futures contracts from 26 November 2010 to 6 July 2012, when he was not an appointed representative, provisional representative or temporary representative for the regulated activity of trading in futures contracts.

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