Yesterday, the Monetary Authority of Singapore (MAS) announced that it had revoked the capital markets services (CMS) license of APICAL Asset Management (AAMPL) over “serious breaches” of its Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) requirements. A formal reprimand was also issued to CEO and Director Yeh Yin Yee and Director Bernard Kan Cheok Yin for failing to keep AAMPL compliant with these regulations. 

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