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The table below provides an overview of the key public enforcement actions taken by the Monetary Authority of Singapore (“MAS”) from January to March 2025.
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.
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Date |
Regulatory/ Enforcement Actions |
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Details |
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13 January 2025 |
MAS has imposed a civil penalty of S$350,000 on Mr Gui Boon Sui @ Goi Chon Yan for falsely trading in the shares of Hiap Hoe Limited and Hotel Grand Central Limited, and trading using the accounts of other persons without the authorisation of the brokerage firms. The civil penalty action is the result of a joint investigation conducted by the Commercial Affairs Department of the Singapore Police Force and MAS, following a referral from the Singapore Exchange Regulation Private Limited. |
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26 February 2025 |
MAS has imposed civil penalties against four individuals, Mr Aw Yong Leon Heng, Mr Neo Say Hwee, Mr Chang Bing Quan Daryl, Mr Cheng Jia Hong, and a trading representative Mr Tan Keng Cheng, for abetting Mr Lim Tiong Hian in false trading and the related unauthorised use of trading accounts under the Securities and Futures Act. These enforcement actions are a result of a joint investigation conducted by MAS and the Commercial Affairs Department of the Singapore Police Force, following a referral from the Singapore Exchange Securities Trading Limited. |
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21 March 2025 |
Mr Lim Kok Tiong Danny, a former representative of Professional Investment Advisory Services Pte Ltd, was issued a 6-year prohibition order under the Financial Services and Markets Act 2022. This follows his conviction in the State Courts for forgery and cheating offences under the Penal Code.
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3 For more details on MAS regulatory and enforcement actions, you may refer to the Enforcement Actions page on MAS’ website.
