MAS, CAD extend joint investigations to all capital markets & financial advisory offences

SINGAPORE (Mar 13): From March 17, the Monetary Authority of Singapore (MAS) and the Singapore Police Force’s (SPF) Commercial Affairs Department (CAD) will extend their Joint Investigations Arrangement to cover all offences under the Securities and Futures Act (SFA) and Financial Advisers Act (FAA).

The CAD-MAS Joint Investigations Arrangement was established in March 2015 for both agencies to collaborate on the co-investigation of market misconduct offences, such as market manipulation and insider trading activities.

Three convictions have been made under these joint investigations to date. These are namely Dennis Tey, for employing a scheme to defraud two providers of contract for differences; Alan Tay, for insider trading in the shares of Qualitas Medical Group and Leeden; and most recently, Mok Piak Liang, for the false trading in the shares of Wilton Resources Corp.  

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