Enforcement

Enforcement

SFC Suspends Licence of Mason Securities Representative

By Editors | 30/10/2020

The former licensed representative said she had forgotten to declare an external securities trading account initially, and “could not be bothered to do so subsequently”.

Enforcement

Singapore Courts Charge Two for Cheating, False Trading

By Editors | 30/10/2020

Ex-KTL Global CEO Tan Kheng Yeow and OCBC Securities trading rep Tan Chun Yong are said to have been involved in a conspiracy for false trading.

Enforcement

FSC Korea Consults on Enforcement of New Consumer Protection Law

By Sanday Chongo Kabange | 29/10/2020

The key enforcement proposals relate to consumer rights, the types of firms under scope, and the reach of the new legislation, and the penalties that can be imposed.

Enforcement

SC Malaysia Establishes Task Force to Combat Financial Scams

By Editors | 27/10/2020

SC chairman Datuk Syed Zaid Albar SAID Malaysian nationals lost $220mn to financial scams in the first six months of this year.

Capital / Liquidity

MAS Seeks Removal of REIT Manager for SFA Breaches

By Editors | 27/10/2020

Eagle Hospitality REIT Management breached the minimum base capital and financial resources requirements under the SFA three times in the span of about a year.

Enforcement

Singapore: Ex-Fund Manager Charged for Acts Likely to Defraud Investors

By Editors | 27/10/2020

The former fund manager allegedly sold bonds at lower-than-market prices from one fund he managed to another fund, knowing there were higher offers for the same bonds.

Enforcement

Singapore Police Charge Ex-Remisier with Criminal Breach of Trust

By Sanday Chongo Kabange | 26/10/2020

Over six years, an 86-year-old client entrusted money to the remisier for the purposes of buying shares but no shares were ever purchased.

Enforcement

Hong Kong ICAC Charges Two Former AIA Agents With Fraud

By Sanday Chongo Kabange | 25/10/2020

A former district manager and former insurance agent each face one count of fraud in separate cases for submitting false income proof statements.

AML / KYC

MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’

By Editors | 23/10/2020

The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.