Singapore Regulator Investigating Brokerages

Monetary Authority of Singapore

Monetary Authority of Singapore

The Monetary Authority of Singapore and the city-state’s Commercial Affairs Department have moved on several local brokerages for possible contraventions of the country’s securities law.

The local business newspaper the Business Times and news agency Bloomberg have reported that the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) raided at least four broking houses including, DBS Vickers, Maybank Kim Eng, OCBC Securities and Philip Securities.

Investigators reportedly visited the trading floors of DBS Vickers, Maybank Kim Eng, OCBC Securities and Phillip Securities earlier to take some people in for questioning and also took away certain items.

The exact nature of the investigation isn’t known, at this time.

More to follow….

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