The Monetary Authority of Singapore (MAS) on Thursday issued two prohibition orders against a former Oversea-Chinese Banking Corp trader for carrying out unauthorised share trades.
Prem Hirubalan, a representative of OCBC Securities from May 2010 to May 2011, conducted unauthorised share trades in the trading accounts of three customers and misappropriated a sum of around $81,000 from one of these customers, MAS said in a statement.
Hirubalan was convicted of charges last year and was sentenced to 10 months imprisonment on August 8, 2016.
The orders by MAS prohibits Hirubalan from performing any regulated activity, acting as a director or becoming a substantial shareholder of any capital market services firm for a period of seven years.
It also prohits him from providing any financial advisory services during the period.
