MAS Revokes the Capital Markets Services Representative's Licence of Mr Foo Ven Chang on Grounds of Conviction

On 19 April 2007, the Capital Markets Services ["CMS"] Representative's licence of Mr Foo Ven Chang was revoked by the MAS.

2. Mr  Foo, a CMS Representative of Kim Eng Securities Pte Ltd, had pleaded guilty for contravening section 97(1) of the Securities Industry Act for false trading and market rigging transactions in relation to the securities of Leong Hin Holdings Ltd between 17 May 2002 and 30 September 2002.  He was sentenced by the Subordinate Courts of Singapore to four months imprisonment on 9 April 2007.


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.