MAS revokes licence of Apical Asset Management for AML/CFT breaches
On 28 July 2020, the Monetary Authority of Singapore (MAS) revoked the Capital Markets Services (CMS) licence of Apical Asset Management Pte. Ltd. (AAMPL) for serious breaches of MAS’ Anti-Money Laundering/Countering Financing of...
Four Individuals Banned by MAS for fraudulent and dishonest conduct
The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against two former bank employees and two former insurance agents for fraudulent and dishonest conduct. The four individuals are: Name Duration of POs Offences Mr Kale Jagdish...
Tai Chi Hedge Fund Founder sentenced to 240 hours of Community Service
Following his conviction for holding himself out as carrying on a business in asset management without a license from the Securities and Futures Commission (SFC), Hong Kong’s Eastern Magistrates’ Court has sentenced Yau Ka Fai to 240 hours of community...
EIB under scrutiny for failings after AML whistleblowing complaints
The European Investment Bank (EIB) has come under scrutiny after whistleblowing complaints have surfaced revealing a disregard for anti-money laundering rules when providing billions of euros to projects around the world. The EU bank has called for an inquiry into a...
