The Monetary Authority of Singapore (MAS) has issued two-year prohibition orders against a former representative of Standard Chartered Bank (Singapore) Limited (SCB), after she was convicted in the State Courts for forgery.

The orders, which took effect from 30 May 2023, see Madison Lin (formerly known as Ms Lin Pei Li) prohibited from performing any regulated activity and from taking part in the management, acting as a director, or becoming a substantial shareholder, of any capital markets services firm under the Securities and Futures Act 2001 (SFA).

She is also 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 licensed or exempt financial adviser under the Financial Advisers Act 2001 (FAA).

Around June 2013, Lin forged an SCB Statement of Accounts of one SCB client by fraudulently altering the first page of the said Statement of Accounts to show that the account holder was another SCB client instead.

On 20 August 2021,  Lin was convicted of one count of forgery under section 465 of the Penal Code. She was sentenced to a fine of $4,000.

The regulator commented: "Lin's conviction gave MAS reason to believe that she has not performed and/or will not perform the type of financial advisory service for which she was appointed under the FAA honestly. It also gave MAS reason to believe that she has not carried on and/or will not carry on business in the type of regulated activity for which she was appointed under the SFA honestly."