Monetary Authority of Singapore slaps S$17m in fines

Pedro Gonçalves
clock • 2 min read

The Monetary Authority of Singapore has fined 42 financial institutions a total of S$16.8m in the period from mid-2017 to end-2018, according to its first-ever enforcement report. The fines come alongside action taken against various misconduct that include one criminal conviction for false trading, S$698,000 in civil penalties for misconduct in trading, 19 prohibition orders that bar individuals from working in the financial industry, and 223 warnings. One person was sentenced to 16 weeks' imprisonment for false trading, the report, which was produced by the MAS Enforcement Departmen...

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