Person charged for false trading under the Securities and Futures Act

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Enforcement Actions

Singapore, 27 March 2024… Mr Tay Ming Hin was charged today for an offence under the Securities and Futures Act (SFA).

2 Mr Tay is accused of trading in the shares of Catalist-listed KOP Limited (KOP), for the purpose of creating a misleading appearance with respect to the price of KOP shares. These trades took place between 7 August 2018 and 21 August 2019.

3Mr Tay faces one charge under section 197(1)(b) of the SFA for his alleged misconduct.

4 The investigation was jointly conducted by the Monetary Authority of Singapore and the Commercial Affairs Department of the Singapore Police Force.

5 If convicted, Mr Tay faces a fine of up to $250,000 or imprisonment for a term of up to 7 years, or both.

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Additional Information:

Section 197(1)(b) of the Securities and Futures Act (Chapter 289, 2006 Rev. Ed.)

Section 197(1)(b) of the SFA states that "No person shall do any thing, cause any thing to be done or engage in any course of conduct, if his purpose, or any of his purposes, for doing that thing, causing that thing to be done or engaging in that course of conduct, as the case may be, is to create a false or misleading appearance - (b) with respect to the market for, or the price of, any capital markets products traded on an organised market.