Media Releases
Published Date: 16 June 2003

DPM Lee Appoints Experts to Appeal Advisory Panel

Singapore, 16 June 2003. Deputy Prime Minister Lee Hsien Loong, in his capacity as Minister in charge of the Monetary Authority of Singapore (MAS), today appointed experts to the Appeal Advisory Panel.  This is an important step forward in strengthening the regulatory framework and also signifies greater industry involvement in the regulatory process. The 21members of the Panel, who are appointed in their personal capacity, are drawn from the financial services industry, professional bodies and the judiciary.  The names of the Panel members are in the Annex.

2   Formation of the Appeal Advisory Panel and Appeal Advisory Committee is provided for under the Financial Advisers Act, the Insurance Act and the Securities & Futures Act.  Whenever financial entities and/or individuals lodge an appeal against an administrative decision taken by MAS, an Appeal Advisory Committee is established to advise the Minister. Panel members will be expected to serve on the Committee to provide an independent industry perspective on the merits of an appeal. The Minister will take a decision, with the benefit of the Committee?s advice. Some examples of MAS? administrative decisions include refusal or revocation of licenses, refusal to register offer documents and refusal to appoint CEOs or directors.

3   In order to facilitate the appeals process, an officer of the MAS will be appointed as secretary of the Panel.  The secretary will provide administrative support and act as the point of contact for the Minister, the Appeal Advisory Committee and the appellant. The Secretary will not be involved in the deliberations of the Appeal Advisory Committee.




1. Mr Andrew Ang, Advocate and Solicitor, M/s Lee & Lee
2. Mr Eric Ang Teik Lim, Managing Director & Joint Head of Investment Banking Group, DBS Bank
3. Mr Chang See Hiang, Advocate and Solicitor, M/s Chang See Hiang & Partners
4. Mrs Fang Ai Lian, Chairman, Ernst & Young
5. Mr Nicholas Forgan, Chief Executive Officer, JP Morgan Futures
6. Mr David Gibson, Managing Director, Asia Pacific, Schroder Investment Management
7. Mr Goh Joon Seng, Chairman, Insurance Disputes Resolution Organisation Ltd
8. Mr Goh Yew Lin, Executive Director, G.K. Goh Stockbrokers Pte Ltd
9. Mr Law Song Keng
10. Mr Lee Tiong Seng, Director, Morgan Stanley Investment Management
11. Mr Victor Liew Cheng San, Corporate Advisor to Singapore Technologies Group
12. Mr Michael Lim Choo San, Executive Chairman, PricewaterhouseCoopers
13. Mr Richard Magnus, Senior District Judge, Subordinate Court
14. Mr Phua Kia Ting, Principal Officer, Cologne Reinsurance Co plc
15. Ms Sim Puay Suang, Executive Vice President, Personal Financial Services, United Overseas Bank
16. Mr Tan Cheng Han, Advocate and Solicitor, Dean, Faculty of Law, National University of Singapore
17. Mr Teng Cheong Kwee, Director, Pheim Asset Management
18. Mr Wong Keen Onn, District Judge, Subordinate Court
19. Mr Lawrence Wong Liang Ying, Head of Group Asset Management, Oversea-Chinese Banking Corporation
20. Mr Lucien Wong Yuen Kuai, Advocate and Solicitor, M/s Allen & Gledhill
21. Mr Alvin Yeo Khirn Hai, Advocate and Solicitor, M/s Wong Partnership

Securities and Futures (Appeal Advisory Panel) Notification 2003 (16.9 KB) 

Financial Advisers (Appeal Advisory Panel) Notification 2003 (16.8 KB) 

Insurance (Appeal Advisory Panel) Notification 2003 (8.42 KB)