Enforcement
Enforcement Actions
Enforcement outcomes from actions taken by MAS that were published between 1 April 2025 to 31 March 2026 included:
- 1 criminal prosecution: Pending court proceedings.
- S$28.5 million in composition sums: Imposed on 16 financial institutions (5 major payment institutions, 6 banks, 3 Capital Markets Services licensees (CMSL), 1 licensed financial adviser and 1 licensed trust company) for breaches of MAS’ AML/CFT requirements or other regulatory breaches.
- S$187,000 in civil penalties: Imposed on 2 individuals, for insider trading.
- 21 prohibition orders (POs): Issued to persons found to be not fit and proper to conduct regulated activities and other relevant functions for durations of 1 to 5 years (13 individuals), 6 to 10 years (6 individuals), and more than 10 years (2 individual).
- 15 other actions taken: Revocation of License (2 CMSLs) for multiple regulatory breaches and public reprimand (13 individuals) for their involvement in various regulatory breaches at their respective entities.
- MAS media release, published 1 July 2025, on Key Regulatory and Enforcement Action taken in Q2 2025
- MAS media release, published 1 October 2025, on Key Regulatory and Enforcement Action taken in Q3 2025
- MAS media release, published 2 January 2026, on Key Regulatory and Enforcement Action taken in Q4 2025
- MAS media release, published 1 April 2026, on Key Enforcement Action taken in Q1 2026