Singapore regulator bans adviser over sales-driven false premium hike

Mark Battersby
clock • 1 min read

The Monetary Authority of Singapore has issued a five-year prohibition order against Zeng Xuan, a former representative of Oversea-Chinese Banking Corporation, following her conviction in the State Courts for an offence involving fraud and dishonesty. Zeng is prohibited from providing any financial advisory service, and from taking part in the management, acting as a director, or becoming a substantial shareholder of any financial advisory firm licensed or exempt under the Financial Advisers Act.  The order took effect from 23 February 2022.  In December 2017, Zeng's client asked h...

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