Civil penalties of S$100,000 each for two over SFA breaches

Singapore

THE Monetary Authority of Singapore (MAS) announced on Thursday that the state courts had ordered civil penalties of S$100,000 each against two individuals - John Chionh Teow Hie and Kiew Yoon Seng - for false and unauthorised trading in contravention of the Securities & Futures Act (SFA).

Between June 2008 and November 2009, Mr Chionh and Mr Kiew engaged in false trading in the shares of Keda Communications, a company delisted from the Singapore Exchange's Catalist board in 2010.