MAS issues 8-year prohibition order vs Ex-insurance firm representative

This after he was convicted for cheating offences.

The central bank slapped eight-year prohibition orders versus a former representative of The Great Eastern Life Assurance Company Limited over his cheating offences.

In a statement, the Monetary Authority of Singapore identified the former insurance firm representative as Selvarajulu Subramaniam, who was convicted in the State Courts over the offence.

Under the orders, he is banned from providing any financial advisory services and from taking part in the management, acting as a director, or becoming a substantial shareholder of any financial advisory firm under the Financial Advisers Act 2001.

He is also barred from carrying on business and from joining in the management of any insurance intermediary under the Insurance Act of 1996.