The Monetary Authority of Singapore (MAS) published its summary of key enforcement actions taken in the second quarter of 2026 on 1 July, setting out a series of financial penalties, a custodial sentence and the revocation of a Major Payment Institution Licence. The round-up covers actions taken between April and June, across fund management, capital markets and payments.
Each of the actions summarised had been announced individually during the quarter.
COMPOSITION FINES AND LICENCE ACTION
Among the headline items, Havenport Investments was issued with a composition fine of S$40,000 in May 2026, alongside a reprimand of its senior management. MAS reprimanded chief executive Patrick Tan Keng Sin and executive director Joseph Tern Yuh Sheng for failing to discharge their duties, including ensuring that the firm complied with MAS regulations.
On 20 May, the authority announced that it had revoked the Major Payment Institution Licence held by Bsquared Technology Pte Ltd, which has not been permitted to provide digital payment token services since 14 May. MAS said an inspection found deficiencies in the firm's risk-management and conflict-of-interest policies, and that it had provided false or misleading information to MAS.
INDIVIDUAL PENALTIES AND CUSTODIAL SENTENCE
On the individual side, Xie Jianfeng was fined S$200,000 on 19 May 2026 for insider trading in Sasseur REIT units under the Securities and Futures Act.
A separate case produced a custodial outcome. Tan Chun Yong, a former OCBC Securities trading representative, was sentenced on 19 May 2026 to ten weeks' imprisonment for aiding false trading in KTL Global shares and for unauthorised trading.
The Q2 2026 round-up is available alongside the individual enforcement statements on the MAS website.
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