Consultation Document on Insider Trading
Insider trading erodes the confidence of investors and is antithetical to market fairness and efficiency. The Monetary Authority of Authority (MAS) is reviewing the scope of our present insider trading laws for the Securities and Futures Act 2001.
MAS introduced the concept of a civil fine and a statutory civil remedy for insider trading in March last year to introduce greater market discipline. The present review relates to the adequacy of the provisions which define criminal and civil liability for insider trading.
The proposed changes to Singapore's insider trading laws are set out in the attached consultation paper. MAS invites the public to give their views and comments on the proposed changes. Submissions should reach MAS by 26 February 2001, and may be sent via email or hardcopy to:
Director, Securities Regulation Development Division
Securities and Futures Department
Financial Supervision Group
Monetary Authority of Singapore
10 Shenton Way
Fax: 6229 9697