The Monetary Authority of Singapore (MAS) published an overview of key public enforcement actions taken from July to September 2025, spanning licence revocation, composition penalties, prohibition orders and reprimands. MAS noted it can deploy measures ranging from reprimands and prohibition orders to civil penalties and referrals for criminal prosecution, and that it considers deterrence and safeguarding Singapore’s financial-centre integrity when deciding on outcomes. Major actions included composition penalties totalling SGD 27.45 million on nine financial institutions for anti-money laundering and countering the financing of terrorism breaches linked to the August 2023 money laundering case, alongside actions against individuals involved in managing relationships with persons of interest. MAS also revoked Xen Capital Asia Pte Ltd’s Capital Markets Services Licence and reprimanded its executive director and former chief executive officer, Katrina Marie Ku Cokeng, for multiple regulatory and licence-condition breaches including failures to submit returns, notify changes to the firm and key personnel, and pay annual corporate fees. Prohibition orders under the Financial Services and Markets Act 2022 covered a five-year ban for forging a client’s signature to set up an insurance policy, bans against three individuals convicted of offences related to unauthorised access to bank customer information, and a three-year ban for mis-selling insurance products to a vulnerable client with intellectual disability. Additional measures included a composition penalty of SGD 93,750 on Singlife Financial Advisers Pte. Ltd. for ineffective recruitment policies and related supervision and training failures, with actions against eight formerly affiliated individuals, and a reprimand of a former Credit Suisse Singapore Branch relationship manager for failures in customer due diligence.

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