MAS REVOKES THE CAPITAL MARKETS SERVICES REPRESENTATIVE LICENCE OF MR LIM TIONG KHENG STEVEN ON GROUNDS OF CONVICTION

1  On 27 March 2006, the Capital Markets Services ["CMS"] representative licence of Mr Lim Tiong Kheng Steven was revoked by the MAS, as he had been convicted of an offence under the Securities and Futures Act ["SFA"]. 

2  Mr Lim, a CMS representative of CIMB-GK Securities Pte Ltd, had pleaded guilty on 6 February 2006 to contravening section 197(1) of the SFA for false trading and market rigging transactions on 10 July 2003 in relation to the securities of DMX Technologies Group Limited. He was fined $120,000 on 8 February 2006. 
 

Market manipulation undermines the integrity of our capital markets.  MAS expects all licensed persons to conduct their activities with integrity and to comply with market conduct rules and regulations, as well as other requirements under the law.