Tuesday, October 26, 2004

rant: Singapore Fines GIC Staff For Insider Trading

sg yahoo news

"The fines are meted out under a civil penalty action, which does not attract criminal sanction. Under Singapore's new Securities and Futures Act, a person convicted of insider trading can be fined up to three times the profit or loss avoided by such trading."

"The MAS said it brought the insider trading action under a new civil penalty regime, which came into force at the beginning of 2004. A civil penalty does not attract criminal sanctions."

interesting. 18 months > beginning of 2004. how does that compute?


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