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prohibition orders (POs)
Zest
MAS bans former AXA and Aviva representatives and one other person for unlawful sub-agency activities
Of the five, four of them were former representatives with AXA Insurance and Aviva Financial Advisers.
October 19, 2023
Zest
MAS slaps prohibition orders against former insurance agents for cheating
The agents were previously with AIA and Professional Investment Advisory Services.
October 16, 2023
Regulatory Action
MAS imposes 5-year prohibition order on 6 former Great Eastern agents
They reduced their income taxes by $124,6481 for the 2018 and 2019 years of assessment.
June 01, 2023
Financially Savvy
Insurance agent receives PO from financial advisory services for cheating
Former Great Eastern representative Selvarajulu Subramaniam was convicted of four counts of cheating in 2021.
December 14, 2022
Zest
Convicted bank relationship manager slapped with 15-year prohibition order
Han was sentenced to seven years’ imprisonment.
December 07, 2022
Zest
MAS slaps 10-year prohibition orders against former DBS wealth planning manager
The former wealth planning manager, Marcus Loh, had deceived seven clients into transferring $490,000 to his personal bank account
March 18, 2022
Zest
Former OCBC rep slapped with five-year prohibition order by MAS for fraud and dishonesty
The PO comes after Zeng’s conviction in the state courts involving fraud and dishonesty.
February 24, 2022
Company in the news
MAS bans three former remisiers and one former financial advisor for false trading in Koyo International
The four persons are among the eight individuals charged for offences related to false trading in the shares of Koyo International
March 03, 2021
Company in the news
MAS bans former insurance agent and former bank employee for fraud and dishonest conduct
The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against Aw Yong Seng, a former representative of Prudential Assurance Company Singapore and Chew Swee Sun Johnny, a former representative of the Bank of Singapore.
August 19, 2020
Update
UOB, Credit Suisse fined a total of $1.6 mil for 1MDB-linked transactions; former Falcon & BSI employees issued prohibition orders: Update
SINGAPORE (May 30): The Monetary Authority of Singapore (MAS) is imposing a total of $1.6 million in financial penalties on Credit Suisse and United Overseas Bank (UOB), having completed its two-year review of banks involved in the transactions related to
May 30, 2017