Noble comes under investigation for potential accounting & regulatory breaches

SINGAPORE (Nov 20): Singapore authorities are launching an investigation into beleaguered commodities trader Noble Group and its wholly-owned subsidiary, Noble Resources, amid the group’s controversial debt restructuring exercise.

According to a joint statement issued on Tuesday by the Singapore Police Force (SPF), Commercial Affairs Department (CAD), Monetary Authority of Singapore (MAS) and Accounting and Corporate Regulatory Authority (ACRA), Noble is suspected of making “false and misleading statements” as well as breaches of disclosure requirements under the Securities and Futures Act (Cap. 289).

The group has been asked by CAD and MAS to furnish documents related to the preparation of its financial statements.

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