The Monetary Authority of Singapore (MAS) issued a one-year prohibition order against a former HSBC Bank representative after he failed to disclose his previous involvement in police investigations and criminal proceedings.
Aw Jun Ray, Reko Corinthians, is banned for a year from providing any financial advisory services, according to a statement from the MAS on Monday. Aw was investigated by the police, and was issued a 24-month conditional warning in 2022, neither of which he declared when applying to a role at HSBC afterwards.
“These contraventions have given the MAS reason to believe that he will not perform financial advisory and capital markets services honestly,” the MAS said.
The regulator separately issued a nine-year prohibition order against Hoi Wei Kit, a former representative of OCBC Bank. Hoi was sentenced to 30 months in prison in 2022 for cheating the bank’s customers of S$170,000 (US$129,750 or RM568,417).
- Bloomberg
Created by Tan KW | Aug 19, 2024