MAS Reprimands Ms Loh Yun Ling, Alison for Contravention of Section 99B(1) of the Securities and Futures Act (Cap.289) ["SFA"]

1              On 9 May 2014, MAS reprimanded Ms Loh Yun Ling, Alison ["Ms Loh"] 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          Ms Loh has contravened section 99B(1) of the SFA as she had acted as a representative of Standard Chartered Bank in respect of the regulated activity of dealing in securities from 13 August 2012 to 12 October 2012, when she was not an appointed representative, provisional representative or temporary representative for the regulated activity of dealing in securities.

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