MAS Reprimands Mr Toh Ee-Han for Furnishing False Information to MAS

1              On 27 July 2017, MAS reprimanded Mr Toh Ee-Han for a contravention of section 329(1) of the Securities and Futures Act (“SFA”).

2              Section 329(1) of the SFA requires a person to ensure that the information he furnishes to MAS is not false or misleading in any material particular. Mr Toh contravened section 329(1) of the SFA, as he failed to disclose that he was a director and the sole shareholder of an investment company in his engagement with and regulatory submissions made to MAS on more than one occasion.  The information was material as Mr Toh had, as a director and a representative of GM Capital Management Pte Ltd (“GMCM”), singly authorised loans from the funds that he was managing on behalf of investors to his aforementioned personal investment company. His conduct constitutes a serious conflict of interest.

MAS expects directors and representatives of all financial institutions to ensure that any information submitted to MAS is complete and accurate. MAS also expects directors and representatives of all financial institutions to take steps to disclose and manage any conflict of interest.

Last Modified on 28/07/2017