MAS slaps 7-year ban on former OCBC Securities dealer

Singapore

THE Monetary Authority of Singapore (MAS) has issued two prohibition orders against Prem Hirubalan, a former representative of OCBC Securities, banning him from performing any financial advisory services, among others, for seven years.

Under the prohibition orders which take effect from Thursday, Hirubalan is also prohibited from any regulated activity, and taking part in the management, acting as a director or becoming a substantial shareholder of any capital market services firm under the Securities and Futures Act (SFA).