.jpg)
The Monetary Authority of Singapore (MAS) has taken civil penalty enforcement action against Mr Toh Leng Poh for insider trading under Section 218(2)(a) of the Securities and Futures Act (SFA).
2. Mr Toh is a finance manager of Datapulse Technology Limited (Datapulse), a company listed on the Singapore Exchange Securities Trading Ltd (SGX-ST). He purchased 690,000 Datapulse shares between 5 March 2007 and 21 September 2007 while in possession of price sensitive information relating to Datapulse’s financial results for the 2nd, 3rd and 4th quarter of Financial Year 2007. As a result of the purchases, Mr Toh made a profit of $10,120.
3. Mr Toh has admitted to civil penalty liability for contravening Section 218(2)(a) of the SFA and will pay a civil penalty of S$50,000 to MAS without court action. Mr Toh has cooperated fully during the course of MAS’ investigation.
4. This matter was referred to MAS by SGX-ST. Civil penalty investigations were carried out by MAS into the matter in accordance with standard operating procedures.
Background:
Insider Trading under section 218(2)(a) of the SFA
Section 218(2)(a) of the SFA prohibits a person who is in possession of material price sensitive information concerning a corporation (to which he is connected), which he knows is material price sensitive and not generally available, from subscribing for, purchasing, selling, or entering into an agreement to subscribe for, purchase or sell those securities of that corporation.
