Maybank Kim Eng Securities not subject of probe

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SINGAPORE: Maybank’s Singapore stockbroking firm, Maybank Kim Eng Securities, is not the subject of the Singapore authorities’ investigation.

It was reported today that the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) were investigating broking firms for possible breaches of the Securities and Futures Act.

The report said MAS and CAD raided at least four broking houses, including DBS Vickers, Maybank Kim Eng, OCBC Securities and Philip Securities.

“Based on the information available to us, Maybank Kim Eng Securities itself is not the subject of these investigations,” said Maybank Kim Eng in a statement made available to Bernama here.

“As with any requests for assistance from regulatory authorities, we will render our fullest cooperation to the Singapore authorities in their investigations,” the investment banking arm of Maybank said.

The statement was issued following various media reports in relation to the investigations by the authorities in Singapore into possible contraventions of the Securities and Futures Act.

-BERNAMA