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



2025 Summits in Hong Kong & Singapore
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


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 $30 billion.












Singapore MAS Issues 5-Year Ban Against ex-Representative of Great Eastern Financial Advisors & AXA Insurance Jonathan Toh Hong Sen for Deceiving Client to Transfer AXA Policy to Great Eastern Despite Knowing There is No Transfer Option, Forged Client Signature to Setup New Great Eastern Policy Without Client Knowledge & Instructed Client to Disregard AXA Payment Reminder Notices

11th July | Hong Kong

The Monetary Authority of Singapore (MAS) has issued a 5-year ban against ex-Representative of Great Eastern Financial Advisors & AXA Insurance Jonathan Toh Hong Sen for deceiving a client to transfer AXA policy to Great Eastern despite knowing there is no transfer option, and forged client signature to setup a new Great Eastern Policy without client knowledge & instructed client to disregard AXA payment reminder notices.  Singapore MAS (10/7/25): “The Monetary Authority of Singapore (MAS) has issued a 5-year prohibition order (PO) under the Financial Services and Markets Act 2022 (FSMA) against Mr Jonathan Toh Hong Sen, a former representative of Great Eastern Financial Advisers Private Limited (GEFA) and AXA Insurance Pte Ltd (AXA).  Mr Toh had moved from AXA to GEFA. While at GEFA, in order to meet sales targets, he informed his previous client that the client could transfer his existing AXA policy to GEFA, despite knowing that the option for such a transfer did not exist. The client agreed to the transfer. Mr Toh then proceeded to forge the client’s signature to establish a new GEFA policy without the client’s knowledge. This deception came to light later when the client discovered that his AXA policy had lapsed. This lapse occurred after Mr Toh had instructed the client to disregard payment reminder notices from AXA.  In view of Mr Toh’s misconduct, MAS is satisfied that Mr Toh is not a fit and proper person to undertake the role of an appointed representative of a financial adviser, in accordance with the Guidelines on Fit and Proper Criteria under Section 7 of the FSMA.  Under the terms of the PO, which took effect on 10 July 2025, Mr Toh is prohibited for a period of 5 years from carrying on any activity or business, or providing any service, the carrying on or provision of which is regulated or authorised by MAS, and from taking part, directly or indirectly, in the management of or acting as a director, partner or manager, of any financial institution (FI) . For the same duration, he is also prohibited from becoming a substantial shareholder of any FI that is a corporation, and if he is already a substantial shareholder of a FI that is a corporation, from acquiring any interest in any voting share in the FI other than a voting share in which he already has an interest.

“ Singapore MAS Issues 5-Year Ban Against ex-Representative of Great Eastern Financial Advisors & AXA Insurance Jonathan Toh Hong Sen for Deceiving Client to Transfer AXA Policy to Great Eastern Despite Knowing There is No Transfer Option, Forged Client Signature to Setup New Great Eastern Policy Without Client Knowledge & Instructed Client to Disregard AXA Payment Reminder Notices “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2025 Investment Day
Hong Kong | Singapore
March / July / Sept / Oct / Nov

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place in Hong Kong and in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2025 Family Office Summit
10th April & 16th Oct Hong Kong Ritz Carlton | 24th April & 6th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2025 Family Office Summit | Register here


2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





 

Notes

  1. HSBC Insurance (Asia Pacific) Holdings Limited acquired AXA in February 2023 and is now operating under a combined entity – HSBC Life Singapore
  2. As defined in section 2 of the FSMA.

 

 

Singapore MAS Issues 5-Year Ban Against ex-Representative of Great Eastern Financial Advisors & AXA Insurance Jonathan Toh Hong Sen for Deceiving Client to Transfer AXA Policy to Great Eastern Despite Knowing There is No Transfer Option, Forged Client Signature to Setup New Great Eastern Policy Without Client Knowledge & Instructed Client to Disregard AXA Payment Reminder Notices

Singapore | Leading financial centre in Asia



Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

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?



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

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


    Basic Member $5 Per MonthBasic Member $60 Per YearProfessional Member $680 Per YearExecutive Member $2,000 Per Year


    Events (Mon)Investment (Tues)UHNW, HNW, Private Wealth (Wed)Family Office (Thurs)Real Estate (Fri)Data, Insights & Reports (Sat)Weekly Top Headlines (Sun)All


    TrialMemberSubscribeInvestment EventsPrivate Wealth EventsFamily Office EventsFind Services / Advisors / InvestmentsFind Clients / Raise Capital


    Corporate MemberSubscriptionEvents (Speakers / Delegates / Booths)WebinarsSponsorshipAdvertise / MediaList B2B ServicesList B2C ServicesE-Newsletter 2 pm Feature to 10K+ Subscribers


    Investment Day HK (July, Sept, Oct)Investment Day SG (July, Sept, Nov)Family Office Summit HK 16th OctFamily Office Summit SG 6th Nov















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










    Caproasia Users

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

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2025 Investment Day

    • March - Hong Kong
    • March - Singapore
    • July - Hong Kong
    • July - Singapore
    • Sept- Hong Kong
    • Sept - Singapore
    • Oct- Hong Kong
    • Nov - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





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