MAS and CAD to investigate all capital markets and financial advisory offences

MAS Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force announced that they will extend the Joint Investigations Arrangement to cover all offences under the Securities and Futures Act (SFA) and Financial Advisers Act (FAA).

This will allow for greater efficiency and more effective enforcement of capital markets and financial advisory offences. The expansion in the scope of the Joint Investigations Arrangement will commence from 17 March 2018.

This arrangement will allow both agencies to consolidate their investigative resources and expertise and further improve the overall effectiveness of market misconduct investigations.

The CAD-MAS Joint Investigations Arrangement was launched in March 2015 , when both agencies collaborated to co-investigate market misconduct offences under Part XII of the SFA, such as market manipulation and insider trading activities. To-date, the joint investigations have secured conviction against three perpetrators of market misconduct. Several other cases are also before the courts, including persons involved in the alleged manipulation of shares in Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd.

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