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.

The information will remain on this page for five years from the date of publication, except for prohibition orders which are still in force after five years. Such prohibition orders will remain on this page until they stop being in force. A financial institution or its agent may, as part of background checks, obtain from MAS records (if any) of prohibition orders previously issued against a person, upon payment of a fee.

28 July 2020 Apical Asset Management Pte. Ltd Revocation/Suspension of Regulatory Status MAS revokes licence of Apical Asset Management Pte. Ltd for AML/CFT breaches, reprimands its CEO and Board
22 July 2020 Asiaciti Trust Singapore Pte Ltd (ATSPL) Composition MAS Imposes Composition Penalty of $1,100,000 on Asiaciti Trust Singapore Pte Ltd for AML/CFT Failures
01 July 2020 Lan Kangming, Wee Toon Lee Criminal Prosecution Two former corporate finance advisers charged for providing false information to MAS
08 May 2020 Kale Jagdish Purushottam, Liaw Tick Kwan, Mike Chew Jun Yong, Priscilla Tien Ling Prohibition Order MAS bans four individuals for fraudulent and dishonest conduct
19 March 2020 TMF Trustees Singapore Limited (TTSL) Composition MAS Imposes Composition Penalty of $400,000 on TMF Trustees Singapore Limited for AML/CFT Failures
19 March 2020 Poh Kim Chuan, Chew Kheng Swee, Yap Bin Chun, Lin Weiwen, William, Kelvin Goh Shang Fei, Lam Allan Prohibition Order MAS bans six individuals for fraud and dishonest conduct
25 February 2020 Wong Leon Keat Criminal Prosecution Former Director charged for offences under the Securities and Futures Act and Penal Code
17 January 2020 Lim Soon Fang First civil penalty enforcement action for failure to disclose shareholding interests
12 December 2019 CT Bright Investment Pte. Ltd. Revocation/Suspension of Regulatory Status MAS Revokes the Capital Markets Services Licence of CT Bright Investment Pte. Ltd.
25 November 2019 Joseph Chai Ming Leong Criminal Prosecution Former Director Convicted of Furnishing False Statement to the SGX-DT
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