SINGAPORE (Oct 21): Three years ago this month, a handful of high-flying stocks lost more than $8 billion in market value within a matter of days. Six months later, in April 2014, the Commercial Affairs Department started what it has called its biggest securities fraud investigation, which has yet to be concluded. Since then, the Singapore Exchange has stepped up its market surveillance activities, and even hauled up one trading representative for “creating a false market” with his trading strategies.

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