MAS Revokes the Capital Markets Services Licence of CT Bright Investment Pte. Ltd.
MAS has revoked the Capital Markets Services (CMS) Licence of CT Bright Investment Pte. Ltd. (CTBI) with effect from 9 December 2019.
Enforcement
Information on formal regulatory and enforcement actions taken by MAS for breaches of laws and regulations administered by MAS and related matters.
Overview
On 1 August 2016, MAS established a dedicated Enforcement Department within which MAS’ enforcement functions and capabilities are centralised. This was aimed at enhancing consistency and expertise in the enforcement functions across the banking, insurance, capital markets and other sectors regulated by MAS.
Key Facts
S$16.8M
Financial penalties and compositions
S$698,000
Civil penalties
444
Supervisory reminders
37
Reprimands
223
Warnings
Based on figures from Enforcement Report 2017/2018.
MAS is resolved to ensure that Singapore remains a clean and trusted financial centre.
- Ravi Menon, Managing Director, MAS
MAS Sets Up Dedicated Departments to Combat Money Laundering and Strengthen Enforcement
Enforcement Approach
MAS’ enforcement approach has three aims:
- Early detection of misconduct and breaches of laws.
- Effective deterrence.
- Shaping business and market conduct.
Our Enforcement Monograph (875.7 KB) sets out more information on the approach that MAS takes towards enforcement, the role that enforcement plays in financial industry oversight and MAS’ enforcement powers and strategy.
Our Enforcement Report builds on the monograph. It provides updates on enforcement matters in the financial markets, highlight key outcomes and outline priorities for the future. The report is published once every 18 months.
View document: Enforcement Report 2017/2018 (1.35 MB)
Enforcement Actions
View the list of formal regulatory and enforcement actions taken by MAS for breaches of laws and regulations administered by MAS and related matters.
What's New
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Former Director Convicted of Furnishing False Statement to the SGX-DT
Singapore, 25 November 2019…Mr Joseph Chai Ming Leong (Mr Chai) was today convicted and sentenced to 4 weeks’ imprisonment for furnishing a false statement to Singapore Exchange Derivatives Trading Limited (SGX-DT). His conviction was a result of a joint investigation conducted by the Monetary Authority of Singapore and...
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MAS bans four individuals for engaging in fraudulent and dishonest conduct
MAS has issued prohibition orders against three former insurance agents and a former bank employee for fraudulent and dishonest conduct.
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Two Individuals Convicted of Fraud In the Trading of Futures Contracts and Furnishing False Statements to SGX-DT
Jimmy Ng Kian Bin and Erik Ng Song Hann have been convicted and sentenced to 16 weeks’ and 4 weeks’ imprisonment respectively for fraud and dishonest conduct in relation to the trading of futures contracts. Their convictions were a result of a joint investigation conducted by MAS and CAD.
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Consultation Paper on Requirements on Controls Against Market Abuse
This consultation sets out MAS' proposed requirements on financial institutions, and are aimed at improving controls and facilitating investigations into cases of market abuse.
- Consultation number:
- P013-2019
- Start date:
- 05 August 2019
- Closing date:
- 05 September 2019
- Status:
- Open