Singapore | Leading financial centre in Asia
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.







Singapore Court Convicts Former CFO of SGX Listed Broadway Industrial Group to 3 Months Jail for Profiting $30,000 for Insider Trading

17th June 2022 | Singapore

A Singapore court has convicted and sentenced the former CFO (Tan Chee Keong) of Broadway Industrial Group (Listed on the Mainboard of the Singapore Exchange) to 3 months and 2 weeks’ imprisonment for insider trading and acquiring benefits from criminal conduct, profiting $30,000 from insider trade and receiving the profit in cash from his friend.  Monetary Authority of Singapore (MAS): “Between March and August 2016, BIGL was in discussions with Platinum Equity Advisors, LLC to sell two of its businesses.  Mr Tan was privy to insider information on the deal and disclosed the information to two friends on numerous occasions, knowing that they would likely purchase BIGL shares. The two individuals subsequently purchased and sold shares in BIGL and made profits. In October 2016, Mr Tan received $30,000 in cash from one of these friends, which was his share of the profits from the insider trade. Mr Tan has paid $30,000 to the state, as disgorgement of his share of the profits from the offence.”  Ms Loo Siew Yee, MAS Assistant Managing Director (Policy, Payments & Financial Crime): “As the chief financial officer of a listed company, Mr Tan owed a duty to the company and its shareholders not to divulge price-sensitive information that has not been disclosed to the market at large. His act of conveying such information to his friends to benefit them and himself undermines public confidence in the transparency and integrity of our capital market. MAS will continue to pursue officers of companies who engage in such misconduct, to ensure a level playing field for all market participants.”

“ Singapore Court Convicts Former CFO of SGX Listed Broadway Industrial Group to 3 Months Jail for Profiting $30,000 for Insider Trading “

 

- Article continues below -
Web links may be disabled on mobile for security.
Please click on desktop.





The 2023 Investment Day | HK & SG
Where do you invest $250k, $1 million, $10 million, $100 million or $1 billion? Can you generate IRR of 10% / 15% / 20% or more? Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th March 2023 in Hong Kong, 4th April 2023 in Singapore, and Virtual Investment Day in April 2023.
Visit | Register here





Monetary Authority of Singapore (MAS) Statement:

Singapore | Leading financial centre in Asia

Court Convicts Former Chief Financial Officer of SGX-listed Company for Insider Trading and Acquiring Benefits from Criminal Conduct

Singapore, 10 June 2022

Mr Tan Chee Keong (Mr Tan) was today convicted and sentenced to 3 months and 2 weeks’ imprisonment for insider trading and acquiring benefits from criminal conduct. At the time of the commission of the offence, Mr Tan was the Chief Financial Officer of Broadway Industrial Group Limited (BIGL), a company listed on the Mainboard of the Singapore Exchange1.

2. Mr Tan pleaded guilty to and was convicted of a charge under section 218(3)(a) of the Securities and Futures Act (SFA) for communicating non-public and material information (insider information) concerning BIGL shares to one of his friends, and a charge under section 47(1)(c) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA) for acquiring a sum of money from that friend. A remaining charge under the SFA, for communicating insider information concerning BIGL shares to another friend, was taken into consideration for the purpose of sentencing.

3. Between March and August 2016, BIGL was in discussions with Platinum Equity Advisors, LLC to sell two of its businesses.  Mr Tan was privy to insider information on the deal and disclosed the information to two friends on numerous occasions, knowing that they would likely purchase BIGL shares. The two individuals subsequently purchased and sold shares in BIGL and made profits. In October 2016, Mr Tan received $30,000 in cash from one of these friends, which was his share of the profits from the insider trade. Mr Tan has paid $30,000 to the state, as disgorgement of his share of the profits from the offence.

4. The investigations against Mr Tan arose from a referral by the Singapore Exchange Securities Trading Limited. Mr Tan’s conviction was a result of a joint investigation conducted by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department of the Singapore Police Force. The court proceedings against the two individuals who are alleged to have received insider information from Mr Tan are ongoing.

5. Ms Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime), MAS, said, “As the chief financial officer of a listed company, Mr Tan owed a duty to the company and its shareholders not to divulge price-sensitive information that has not been disclosed to the market at large. His act of conveying such information to his friends to benefit them and himself undermines public confidence in the transparency and integrity of our capital market. MAS will continue to pursue officers of companies who engage in such misconduct, to ensure a level playing field for all market participants.”

[1] Mr Tan was the Chief Financial Officer of BIGL from 5 October 2015 to 8 August 2017




Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below








Caproasia Users

  • Manage $20 million to $3 billion of assets
  • Invest $3 million to $300 million
  • Advise institutions, billionaires, UHNWs & HNWs

Caproasia Platforms | 10,000 Investors & Advisors

Monthly Roundtable & Networking

Family Office Programs

The 2023 Investment Day

  • 28th March 2023 - Hong Kong
  • 4th April 2023 - Singapore
  • April 2023 - Virtual
  • Sept 2023 - Hong Kong
  • Oct 2023 - Singapore
  • Oct 2023 - Hong Kong
  • Visit: The Investment Day | Register: Click here

Caproasia Summits

Contact Us

For Enquiries, Membership
mail@caproasia.com, angel@caproasia.com

For Listing, Subscription
mail@caproasia.com, claire@caproasia.com

For Press Release, send to:
press@caproasia.com

For Events & Webinars
events@caproasia.com

For Media Kit, Advertising, Sponsorships, Partnerships
angel@caproasia.com

For Research, Data, Surveys, Reports
research@caproasia.com

For General Enquiries
mail@caproasia.com





Make Better Business & Investment Decisions



For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Professional InvestorInstitutional InvestorFamily OfficeAdvisorFinancial ProfessionalExecutiveOthers


    Mailing ListFree TrialSubscription YearlySubscription MonthlyMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights











    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014


    Web links may be disabled on mobile for security.
    Please click on desktop.






    Previous articleHong Kong SFC Fines China Everbright Securities $484,000 for Anti-Money Laundering Breaches, Failure to Identify $31 Million from 178 Transactions
    Next articleUnited States SEC Charges Charles Schwab Investment Adviser Subsidiaries with $187 Million Settlement, Misrepresents Robo-Advisor Portfolios & Loaned Out Clients Cash 
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia