SINGAPORE (Oct 11): The Monetary Authority of Singapore (MAS) has issued prohibition orders against three former insurance agents and a former bank employee for fraudulent and dishonest conduct.
Following their convictions in the State Courts of Singapore for offences involving fraud and dishonesty, MAS has banned the individuals from providing financial advisory services, or taking part in the management of any financial advisory firm under the Financial Advisers Act (FAA).
This includes acting as a director or becoming a substantial shareholder of any financial advisory firm.
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