MAS bans four individuals for market misconduct

They have also been convicted.

The Monetary Authority of Singapore has issued prohibition orders (POs) against four individuals convicted for market misconduct.

They are Lau Wen Hang, former CGS-CIMB Securities remisier; Yeo An Lun, former Prudential Assurance Singapore representative; Goh Qi Rui Rayson, former OCBC Securities remisier; and Teo Boon Cheang, former KGI Securities remisier. The POs took effect from 1 March.

These individuals are prohibited from providing any financial advisory service, or taking part in the management, acting as a director, or becoming a substantial shareholder of any licensed financial adviser under the Financial Advisers Act.

In addition, Lau, Goh and Teo are not allowed to carry out any regulated activities and to take part in the management, act as a director, or become a substantial shareholder of any capital market services licensee under the Securities and Futures Act (SFA).

The four were amongst the eight individuals charged for offences under the SFA in relation to a scheme to commit false trading in the shares of Catalist-listed Koyo International Limited. They were convicted and sentenced to imprisonment terms of between three months and 20 months 18 weeks.