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Singapore Central Bank & Commercial Crime Unit Extend Partnership to Cover SFA & FAA Offences

The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force will extend the Joint Investigations Arrangement to cover all offences under the Securities and Futures Act (SFA) and Financial Advisers Act (FAA). This will allow for greater efficiency and more effective enforcement of capital markets and financial advisory offences.

“ MAS & CAD extend partnership to cover all offences under SFA & FAA “

In March 2015, the CAD-MAS Joint Investigations Arrangement collaborated to co-investigate market misconduct offences under Part XII of the SFA, such as market manipulation and insider trading activities. To-date, the joint investigations have secured conviction against three perpetrators of market misconduct.

Several other cases are also before the courts, including persons involved in the alleged manipulation of shares in Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd.


The three convictions secured under the joint investigations are: (1) Dennis Tey Thean Yang, convicted in March 2017, for employing a scheme to defraud two providers of contract for differences; (2) Alan Tay Yeow Kee, convicted in May 2017, for insider trading in the shares of Qualitas Medical Group Limited and Leeden Limited; and (3) Mok Piak Liang, convicted in January 2018, for false trading in the shares of Wilton Resources Corporation Limited.

Source: Official Press Release

 

About Monetary Authority of Singapore

Monetary Authority of Singapore
Monetary Authority of Singapore

Monetary Authority of Singapore (MAS) is Singapore’s central bank, which was formed back on 1 January 1971. It promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. MAS manages Singapore’s exchange rate, foreign reserves and liquidity in the banking sector. It is also an integrated supervisor overseeing all financial institutions in Singapore — banks, insurers, capital market intermediaries, financial advisors, and the stock exchange.

  • Origin : Singapore
  • Assets : USD 385.12 billion
  • Revenue : USD 1.89 billion

Official Website: www.mas.gov.sg

News & Media: Press Release

Updated on 8th August 2016



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