MAS bans two bankers for fraud

The Monetary Authority of Singapore has issued prohibition orders against two former bank employees for fraud and dishonest conduct.  The orders, issued to Lu Chor Sheng and Tan Swee Thiam Timothy, took effect from Thursday. The cases were unrelated and both have been convicted in the State Courts, MAS added. Lu and Tan, who received 17 and nine years respectively, are prohibited from performing any regulated activity under the Securities and Futures Act (SFA) and from providing any financial advisory service under the Financial Advises Act (FAA). Between January 2011 and June 2013...