The table below provides an overview of the key public enforcement actions taken by the Monetary Authority of Singapore (“MAS”) from April to June 2026.
2 MAS can take a range of enforcement actions for breaches of the laws under its administration, including reprimands, composition penalties, prohibition orders, civil penalties and referring a case for criminal prosecution. In assessing the type of enforcement action to impose, MAS takes into account the need to deter similar misconduct as well as to safeguard the integrity of Singapore as a financial centre.
| Date | Regulatory/ Enforcement Actions | Details |
| 18 May 2026 | MAS reprimanded senior management members of Havenport Investments Pte Ltd (HIPL) for their failure to satisfactorily discharge their duties which included, among other things, ensuring that HIPL complied with MAS regulations. MAS also imposed a composition fine of $40,000 against HIPL for the breaches committed by the company. | MAS Takes Enforcement Action against Havenport Investments Pte Ltd and its Senior Management for Breaches of MAS Regulations |
| 20 May 2026 | In two separate cases, Mr Tan Chun Yong and Mr Xie Jianfeng were convicted and sentenced on 19 May 2026 to 10 weeks’ imprisonment, and to a fine of $200,000 respectively, for trading-related offences under the Securities and Futures Act. | Two Individuals Convicted for Offences under the Securities and Futures Act |
| 20 May 2026 |
MAS revoked the Major Payment Institution Licence of Bsquared Technology Pte Ltd (BSQ) with effect from 14 May 2026. MAS’ inspection found significant weaknesses in BSQ’s risk management practices and conflict of interest policies, as well as failure to meet MAS’ Guidelines on Outsourcing in its arrangements with related entities. BSQ had also provided information to MAS that was false or misleading in material particulars on multiple occasions, from the time of its licence application up to and including during MAS’ inspection. |
MAS Revokes the Major Payment Institution Licence of Bsquared Technology Pte Ltd |
| 25 May 2026 | MAS imposed a composition penalty of $300,000 on Padang Trust Singapore Pte. Ltd., a licensed trust company, for breaches of MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. | MAS Imposes $300,000 Composition Penalty on Padang Trust Singapore Pte. Ltd. for AML/CFT Breaches |
| 30 June 2026 | MAS imposed a civil penalty of $120,000 on Dr Chua Han Boon Kenneth, for insider trading in the shares of Singapore Medical Group Limited, a company formerly listed on the Singapore Exchange. | Joint Statement by Monetary Authority of Singapore (MAS) & Commercial Affairs Department (CAD), Singapore Police Force |
3 For more details on MAS regulatory and enforcement actions, you may refer to the Enforcement Actions page on MAS’ website.
