The Monetary Authority of Singapore (MAS) has slapped a civil penalty of $100,000 on Tan Su Lan for false trading in the shares of Aspial Corporation and Far East Orchard.
According to MAS in a statement on May 11, Tan had executed her trades in a manner that was likely to create a false appearance of the price of the shares, and that she was reckless as to whether the trades would be likely to create such a false appearance.
In doing so, she had contravened section 197(1A)(b) of the Securities and Futures Act.
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