Singapore knobbles Noble with SGD12.6m fine, warnings to former directors, Ernst and Young

clock • 2 min read

Regulatory authorities in Singapore have hit commodities trader Noble with a fine, issued "stern warnings" to two former directors in the business, and flagged up orders against auditors from Ernst and Young in regards to audited statements between 2012-16. The action follows a multi-year, multi-agency investigation into failures linked to financial statements involving Noble Group Limited (NGL) and its Singapore subsidy Noble Resources International Pte Ltd (NRI). The Monetary Authority of Singapore (MAS) has issued a civil penalty of SGD12.6m against NGL for "publishing misleading i...

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