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MAS, CAD to together probe market misconduct from now on
THE Monetary Authority of Singapore (MAS) and the Singapore Police Force's Commercial Affairs Department (CAD) will jointly investigate market misconduct from now on, the two agencies announced on Tuesday afternoon.
The change is aimed at making enforcement more efficient by consolidating resources and expertise as well as giving the MAS officers the same criminal powers of investigation as CAD officers.
The MAS and CAD were previously investigating offences such as insider trading and market manipulation independently based on an initial assessment of whether the offence is likely to result in a civil penalty or criminal prosecution.
Both agencies will investigate potential misconduct together right from the start. The decision on whether to pursue civil or criminal action will be decided after investigations are concluded.