Skip to main content

Singapore's central bank and white-collar crime police are probing several broking firms and trading representatives as part of an investigation into possible breaches of the securities act.

The Securities and Futures act relates to the regulation of activities and institutions in the securities, futures and derivatives industry, and of clearing facilities.

"As investigations are ongoing, we are not able to provide further information," the Monetary Authority of Singapore said in a statement.

It said it obtained documents from the broking firms and trading representatives in the joint investigation with the Commercial Affairs Department of Singapore's police.

Singapore has taken steps to improve its scrutiny on trading activities following a penny stock scandal, which saw share prices of three stocks crash spectacularly in 2013 after huge run-ups turned them briefly into billion-dollar firms.

This took a toll on stock trading volumes at the Singapore Exchange Ltd, which is also the city-state's market regulator.

In a separate emailed statement in response to Reuters queries on Friday, SGX said it had referred three cases of insider trading and six cases of market manipulation to the MAS in January to March this year. The SGX said it regularly refers case investigations to the MAS.

Last year, it referred 11 cases of insider trading and 13 cases of market manipulation.

Related Articles

Q&A with Edwin Northover, Debevoise & Plimpton LLP

Debevoise & Plimpton LLP won the Insurance Law Firm of the Year award at the ALB Hong Kong Law Awards 2024, apart from being the sponsor of the Insurance In-House Team of the Year award. Edwin Northover, Asia-based corporate partner and head of the firm’s financial institutions and corporate practices in Asia, talks about the firm's recent achievements, trends in the insurance industry, and future outlook for insurance law in Hong Kong.

Kramer Levin and Herbert Smith Freehills plan latest law firm mega-merger

by Reuters |

U.S. law firm Kramer Levin Naftalis & Frankel and global legal giant Herbert Smith Freehills are planning to merge to create a firm with more than 2,700 lawyers, according to a joint statement on Monday.

Tokyo International makes Singapore debut with SE Asia in its sights

by Sarah Wong |

Japanese boutique Tokyo International Law Office (TKI) is set to establish its first overseas outpost with the opening of a Singapore office in January 2025, marking a significant milestone in the rapidly expanding firm's global strategy.