From 17 March 2015 onward, all market misconduct offences (such as insider trading and market manipulation under Part XII of the Securities and Futures Act (SFA)) will be investigated jointly by both the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force.
On 17 March 2015, the MAS announced a new market misconduct enforcement regime, which came into force with immediate effect. The new regime will see the MAS and CAD jointly investigating all potential market misconduct cases at the outset. Decisions on whether a case is subject to civil penalty action or criminal prosecution will be made when investigations are concluded. The MAS announcement can be accessed here. For a more detailed briefing from our teams in Singapore and Hong Kong, please click here.
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