MAS imposes first civil penalty for failure to disclose shareholding interests
06 Apr 2020
The Monetary Authority of Singapore (“MAS”) recently imposed the first civil penalty on an investor for failing to comply with the shareholding interests disclosure requirements found in the Securities and Futures Act (Cap. 289). This article discusses the relevant disclosure obligations in light of MAS’ landmark civil penalty enforcement action and highlights the need for substantial shareholders to disclose their shareholding interests promptly and accurately when trading in the shares of companies listed on the Singapore Exchange Securities Trading Limited.
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