Singapore | Leading financial centre in Asia
Caproasia.com | The leading source of data, research, information & resource for investment managers, professional investors, UHNW & HNW investors, and 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

Media, Events, Networking, Roundtable, Membership - Contact Us

Grow Your Clients, Business & AUM. Start in 24 hours.
List Services: HNW | Private Wealth | Family Office | Investment

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 “

 



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


Do you manage $20 million to $30 billion?
Advise institutions, billionaires, UHNWs & HNWs?

Subscribe Caproasia
Delivered to your Inbox
Get Ahead in 60 Seconds. Organised for Success.
Join 10,000 + leading financial professionals, investment managers,
professional investors & advisors.
Links: Learn More | UHNW & HNW | Subscribe | Start Today

2022 Summer Subscribe Special | 15th July 2022
$180 Yearly | $380 Yearly (Full Price)
Individual, Team & Corporate Subscription
Email: claire@caproasia.com

Grow Your Clients, Business & AUM. Start in 24 hours.
List Services: HNW | Private Wealth | Family Office | Investment

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



Monetary Authority of Singapore (MAS) Statement:

Singapore Financial District 2016 Dec 1
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





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

Sign Up / Contact Us

Caproasia | Get Ahead in 60 Seconds. Join 10,000 +


    Mailing List (Free)Subscribe 2022 Summer Promo $180 YearlySubscribe $380 YearlySubscribe $40 MonthlyAssociate Member $380Professional Member $680Executive Member $2,000Corporate Member


    Private 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.









    Caproasia.com | The leading financial website for investment managers, professional investors, UHNW & HNW investors and 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 is a financial information technology co. founded in 2014. We have 4 businesses in Media, Information, Services and Technology. We created 3 solutions: Membership, Events & Platforms to drive investment decisions in Asia through information, services, technology & people, that impact economies, societies & people. Our Mission: Driving the future of Asia

    For 2022 Investment Day: mail@caproasia.com
    For Family Office, Professional Investor, HNW Investor Events: mail@caproasia.com
    For Membership, Events, Networking, Roundtable, Summits: mail@caproasia.com
    For Investment Relations Network: mail@caproasia.com
    For Platforms, Media Kit, Advertising, Campaigns, Partnerships: angel@caproasia.com
    For press release: press@caproasia.com
    For all other enquiries: mail@caproasia.com



    Caproasia Users
    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs
    • Learn More | Caproasia Users
    Caproasia Platforms | Join 10,000 Investors & Advisors Monthly Networking & Roundtables: Membership | Join a Powerful Network: Family Office Programs: Caproasia Summits: Special Coverage


    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