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MAS bans former insurance agent and former bank employee for fraud and dishonest conduct

Felicia Tan
Felicia Tan8/19/2020 12:09 PM GMT+08  • 3 min read
MAS bans former insurance agent and former bank employee for fraud and dishonest conduct
The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against Aw Yong Seng, a former representative of Prudential Assurance Company Singapore and Chew Swee Sun Johnny, a former representative of the Bank of Singapore.
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The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against Aw Yong Seng, a former representative of Prudential Assurance Company Singapore and Chew Swee Sun Johnny, a former representative of the Bank of Singapore.

The POs were issued following Aw and Chew’s convictions in two unrelated court cases. The orders took effect from August 18.

Aw is prohibited for a period of five years from providing any financial advisory services, or taking part in the management of, or becoming a substantial shareholder of any financial advisory firm under Cap. 110 of the Financial Advisers Act (FAA). He is also banned from carrying on business as, or taking part in the management of, any insurance intermediary under Cap. 142 of the Insurance Act (IA).

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