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

Based on figures from Enforcement Report 2020/2021.

MAS is resolved to ensure that Singapore remains a clean and trusted financial centre.

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 (1.29 MB) 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, highlights key outcomes and outlines priorities for the future. The report is published once every 18 months.

View latest Report: Enforcement Report 2020/2021 (2.07 MB)

View past Reports:

Enforcement Report 2017/2018 (1.35 MB)

Enforcement Report 2019/2020 (868.6 KB)

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.

View enforcement actions

Please refer to Section 7 of our Enforcement Monograph for more information about MAS' approach to making public statements on investigations.

What's New

  • Enforcement Actions
    Published Date: 09 February 2022

    Person charged for fraudulently inducing others to deal in shares

    Singapore, 9 February 2022… Mr Goh Jia Poh, Kenneth was charged today for offences under the Securities and Futures Act (SFA). 2 Mr Goh is accused of making false statements in two Telegram chat groups to induce others to trade in multiple securities listed on the Mainboard or the Catalist of the Singapore Exchange...

  • Enforcement Actions
    Published Date: 06 October 2021

    MAS bans Mr Lee Chengyi, Adrian following conviction for fund management without a licence

    Singapore, 6 October 2021… The Monetary Authority of Singapore (MAS) has issued 4-year prohibition orders (PO) against Mr Lee Chengyi, Adrian, a former representative of Aviva Financial Advisers Pte Ltd, following his conviction for carrying on fund management without a capital markets services licence. 2 Mr Lee is...

  • Enforcement Actions
    Published Date: 05 May 2021

    MAS bans Lim Chew Keat for making false and misleading statements

    Singapore, 5 May 2021… The Monetary Authority of Singapore (MAS) has issued a 2-year prohibition order (PO) against Mr Lim Chew Keat, a former insurance agent of Synergy Financial Advisers Pte Ltd (Synergy FA) for making false and misleading statements to his client. 2 Mr Lim is prohibited from providing any financial...

  • Enforcement Actions Media Releases
    Published Date: 15 March 2021

    Court convicts individual for false trading and deception

    Mr Wong Leon Keat was sentenced to a total of eight weeks’ imprisonment and a fine of $30,000 for false trading and deceiving a brokerage firm while trading in the shares of Gaylin Holdings Limited.