The need to disclose conflicts of interest
WHEN it comes to buying a piece of real estate, many in Singapore engage an agent to help them source for potential properties and negotiate the price.
Getting ahead of your clients? A look at front-running
THE Monetary Authority of Singapore (MAS) on Aug 14, 2019, issued prohibition orders for three individuals who were earlier convicted for insider trading. According to MAS: "The three individuals had engaged in a front-running arrangement over a period of seven years and colluded to misuse...
Investment professional of the future must adapt to changes to stay ahead
THE investment industry is changing faster than ever before and the pace shows no signs of slowing. The Investment Professional of the Future the latest report by CFA Institute, the global association of investment management professionals, shows that 90 per cent of industry leaders surveyed...
Loyalty, prudence and care
UNDER the CFA Institute's 'Loyalty, Prudence, and Care' Standard of Practice, "members of the professional body have a duty of loyalty to their clients and must act with reasonable care and exercise prudent judgment. Members must act for the benefit of their clients and place their clients'...
Are independence and objectivity in question when the auditor is also the consultant?
SINGAPORE-based SIA Group pulled its SilkAir Boeing 737 Max 8 fleet from service following the Ethiopian Airlines crash in which all 157 passengers on board perished.
Managing misconduct in the financial advisory sector
FRESH out of school and into employment, most of us would have some recollection of our first job. There was the daily climb up the stairs upon alighting from the MRT. At every meeting, we ensured every page of the meeting document was duly photocopied. We checked more than twice to ensure that...
Absolutely no room for harassment
A DOCTOR is a professional. A lawyer is a professional. Being professional means doing a good job by being competent in a particular field of expertise.
What makes it insider trading?
FORTY-TWO financial institutions in Singapore were fined S$16.8 million by the Monetary Authority of Singapore (MAS) over the 18 months between July 2017 and December 2018. They were penalised for market abuse (e.g. insider trading), misconduct in financial services (e.g. mis-selling or...
Advisers' obligations to Accredited Investors
ON Oct 8, 2018, a slew of changes was made to the Securities and Futures Act and the Financial Advisers Act to usher in a new regime for Accredited Investors (AIs).
Who is responsible for billing inaccuracies?
NEXT week marks an important date for the Australian financial industry. Feb 4 is the due date for the highly anticipated final report of the Australian banking royal commission, which had been set up in December 2017 to investigate factors that have given rise to widespread misconduct in the...
Trading in cryptocurrency: is it acceptable?
IN May last year (2018), the Monetary Authority of Singapore (MAS) issued a warning to eight digital token exchanges in Singapore not to facilitate trading in digital tokens that are deemed to be capital markets products under the Securities and Futures Act (SFA) without MAS' authorisation...
Ethics in focus: Trading in unit trusts
FROM Oct 1 this year, CPF members who make new purchases of products such as investment-linked insurance policies (ILPs) and unit trusts under the CPF Investment Scheme (CPFIS) will pay a lower sales charge of 1.5 per cent.