Penny probe CAD's biggest ever: ex-director
Complex case is also 'first ever joint CAD-MAS investigation', says Tan Boon Gin, now SGX's chief regulatory officer
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Singapore
THE ongoing probe of the October 2013 penny stock collapse happens to be "the biggest securities fraud investigation" that the Commercial Affairs Department (CAD) has ever conducted, current Singapore Exchange (SGX) chief regulatory officer and former CAD director Tan Boon Gin revealed on Wednesday at the market operator's annual general meeting.
Responding to a shareholder's question on why the investigation (which CAD began in 2014) is taking so long, Mr Tan said he could not share any details. But he sought to reassure the shareholder that CAD and the Monetary Authority of Singapore (MAS) were doing their utmost. Mr Tan joined SGX in June.
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