MAS Issues 5 Year Prohibition Orders against Ex-DBS Vickers Remisier
Monetary Authority of Singapore (MAS) has issued a 5 year prohibition orders against Mr Tey Thean Yang Dennis. Between 2012 to 2013, he had used different trading accounts to enter orders in the underlying securities to affect the price of the Contract for Differences (CFD).
” MAS Issues 5 Year Ban against Ex-DBS Vickers Remisier “
Mr Tey had executed the CFD trade and subsequently removed the orders in the underlying securities. Through these trades, he made a total profit of $30,239. On 22nd March 2017, he was sentenced to a total of 16 weeks’ imprisonment.
Mr Tey will be prohibited for a period of 5 years from performing any regulated activity and being involved as management, director or substantial shareholder of any (SFA) capital market services firm and providing and providing financial advisory services and being involved as management, director or substantial shareholder of any (FAA) financial advisory firm.
He was a remisier with DBS Vickers Securities, and during the period, transacted the CFDs that were offered by IG Asia and CMC Markets.
Source: Official Press Release
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