The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $200,000 on Mr Lim Soon Fang for not disclosing changes in, and providing false information regarding his shareholding in Asia-Pacific Strategic Investments Limited (ASIL).
Based on figures from Enforcement Report 2017/2018.
MAS’ enforcement approach has three aims:
- Early detection of misconduct and breaches of laws.
- Effective deterrence.
- Shaping business and market conduct.
Our 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.
MAS has revoked the Capital Markets Services (CMS) Licence of CT Bright Investment Pte. Ltd. (CTBI) with effect from 9 December 2019.
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...
MAS has issued prohibition orders against three former insurance agents and a former bank employee for fraudulent and dishonest conduct.
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.