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MAS steps up enforcement actions against market abuse and financial misconduct

Lim Hui Jie
Lim Hui Jie11/4/2020 10:1 AM GMT+08  • 2 min read
MAS steps up enforcement actions against market abuse and financial misconduct
MAS said in its 2019-2020 enforcement report they have imposed $11.7 million in civil penalties and 9 convictions for misconduct.
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The Monetary Authority of Singapore has imposed $11.7 million in civil penalties and secured the criminal convictions of nine individuals for market misconduct or related offences from Jan 2019 to Jun 2020.

This was revealed in its 2019-2020 Enforcement Report released on Nov 4. The report also added that MAS imposed $3.3 million in composition penalties for money laundering-related control breaches, and issued 25 prohibition orders against unfit representatives.

See also: MAS discontinues $1,000 notes to pre-empt money laundering and terrorism financing risks

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