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MAS revokes CMS licence of CT Bright Investment

Chan Chao Peh
Chan Chao Peh12/12/2019 02:24 PM GMT+08  • 2 min read
MAS revokes CMS licence of CT Bright Investment
SINGAPORE (Dec 12): The Monetary Authority of Singapore (MAS) has revoked the Capital Markets Services Licence of CT Bright Investment, following numerous breaches of rules and licencing conditions.
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SINGAPORE (Dec 12): The Monetary Authority of Singapore (MAS) has revoked the Capital Markets Services Licence of CT Bright Investment, following numerous breaches of rules and licencing conditions.

According to MAS, CTBI did not commence fund management activity within six months of licence issuance, as required. It also did not seek an extension from MAS for the commencement of its fund management business.

Furthermore, CTBI did not lodge numerous regulatory returns under the Securities and Futures Act (SFA) and Securities and Futures (Financial and Margin Requirements) Regulations, despite repeated reminders from MAS to CTBI and its CEO, one Tanawat Wansom.

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