TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant. Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange. MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs). During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issue manager
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Reuters
22 November 2013
Singapore Exchange Ltd (SGX) said on Friday it had split the role of its regulatory and risk chief officer, a move that follows a penny stock crash that raised questions about the firm’s regulatory abilities.
SGX, which regulates listed companies that are also its clients, said in a statement its chief regulatory and risk officer, Yeo Lian Sim, was retiring at the end of this year and would be hired on as a special advisor. She has been with SGX since July 2004.
Her role will be split between Richard Teng, who will become the chief regulatory officer and Agnes Koh, who will take on the role of chief risk officer.
Mr Teng has been deputy chief regulatory officer since Jan 2012. Agnes Koh is currently the head of risk clearing.
Share price volatility in three inter-linked Singapore companies last month had raised questions marks over whether SGX had missed red flags and was too slow to act.
The Monetary Authority of Singapore is conducting a review of the stock crash. - Reuters