SINGAPORE: A former trade representative of UOB Kay Hian (UOBKH) received prohibition orders from the Monetary Authority of Singapore (MAS) on Thursday August 18 for false and unauthorized transactions.
The four-year restraining orders against Ms Chua Kah Boey came into effect on Thursday.
A civil fine of S$100,000 was also imposed on Ms Chua for breaching the Securities and Futures Act 2001. She paid this amount to MAS without legal action, the central bank noted.
“Ms. Chua had committed false transactions by executing a client’s instructions to purchase shares of Gaylin Holdings Ltd (GHL) in an attempt to create a misleading appearance with respect to the price of the shares,” MAS said in A press release.
“She also engaged in unauthorized trading by executing a third party’s trading instructions through two other trading accounts without permission from her former employer.”
Under the prohibition orders, Ms. Chua may not engage in any regulated business or participate in the management, act as a director or become a significant shareholder of any holder of a capital markets services company under of the Securities and Futures Act 2001.
She is also prohibited from providing financial advice services and may not participate in the management, act as a director or become a significant shareholder of a financial advice company under the Financial Advisors Act 2001.