MAS fines trader S$350k for false trading and unauthorized activities
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The Monetary Authority of Singapore (MAS) has fined trader Gui Boon Sui S$350,000 for engaging in false trading and unauthorized activities. Gui manipulated share prices of Hiap Hoe Limited (HHL) and Hotel Grand Central Limited (HGC) on 554 and 56 occasions, respectively, between December 2018 and August 2022. He admitted to the violations and agreed to the penalty without court proceedings, also committing not to act as a company director for two years. Penalties can reach three times the profits gained or losses avoided, with minimum thresholds of $50,000 for individuals.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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