Two fined for unauthorised share trading

Singapore

The Monetary Authority of Singapore (MAS) has successfully obtained a civil penalty judgment against Wang Boon Heng and Foo Jee Chin for contravening rules under the Securities and Futures Act (SFA), which prohibit fraud or deception in share trading.

This case was referred to MAS by the Singapore Exchange. When the act was committed, Wang and Foo were divorced, and Wang was an undischarged bankrupt.