MAS takes civil penalty action on former CIMB traders

In a statement, MAS assistant managing director (policy, payments and financial crime) Loo Siew Yee said the former traders, Ngin Kim Choo and Yeo Jin Lui, had executed a client’s instruction to purchase KS Energy Ltd (KSE) shares to inflate the prices of the shares in the company.

SINGAPORE: The Monetary Authority of Singapore (MAS) has imposed civil penalties and issued prohibition orders (POs) against two former CIMB Securities (S) Pte Ltd trading representatives.

In a statement, MAS assistant managing director (policy, payments and financial crime) Loo Siew Yee said the former traders, Ngin Kim Choo and Yeo Jin Lui, had executed a client’s instruction to purchase KS Energy Ltd (KSE) shares to inflate the prices of the shares in the company.