MAS ISSUES REPRIMAND TO MS CAROLINE VAN DER MEER, FOR MISCONDUCT PURSUANT TO SECTION 72(1) OF THE TRUST COMPANIES ACT (CHAPTER 336) (THE "TCA")
1 On 20 September 2011, MAS reprimanded Ms Caroline van der Meer, who was formerly an Executive Director and Resident Manager of ATC Trustees (Singapore) Pte Ltd ("ATCS"), for misconduct pursuant to section 72(1) of the TCA. ATCS is a licensed trust company in Singapore.
2 Ms van der Meer had, on 24 February 2011, 2 March 2011 and 4 March 2011 provided inaccurate and incorrect statements to MAS. In this respect, Ms van der Meer has failed to discharge the duties or functions of her office within the meaning of paragraph (b) of the definition of "misconduct" in section 72(2) of the TCA.
MAS expects an officer of a licensed trust company to take all reasonable steps to comply with the provisions of the TCA and to ensure the accuracy and correctness of any statement submitted under the TCA.