MAS, CAD to jointly investigate all capital markets and financial advisory offences

MAS, CAD to jointly investigate all capital markets and financial advisory offences

Singapore skyline, CBD
Singapore's skyline. (File photo: AFP/Roslan Rahman)

SINGAPORE: The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force will soon jointly investigate all capital markets and financial advisory offences. 

This widens the scope of their 2015 arrangement which covered joint investigations of market misconduct offences such as insider training and market manipulation. 

From Mar 17, this will include all offences under the Securities and Futures Act and Financial Advisers Act, announced both parties in a media release on Tuesday (Mar 13). 

"This will allow for greater efficiency and more effective enforcement of capital markets and financial advisory offences," they said.

"This arrangement will allow both agencies to consolidate their investigative resources and expertise and further improve the overall effectiveness of market misconduct investigations."

The CAD-MAS Joint Investigations Arrangement was launched in March 2015. Since then, three perpetrators of market misconduct have been convicted as a result of the joint investigations. 

Several other cases are before the courts, including individuals involved in the alleged manipulation of shares in Blumont Group, Asiasons Capital and LionGold Corp

Source: CNA/am

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