(20-11-2013, 08:41 AM)hurricane Wrote: [ -> ]For everyone who is caught, I wonder how many go scot free every day? Especially if your trading isn't that large as to attract attention and you split up your trading by making use of numerous relatives' accounts etc.
In theory yes, in practice not so.
Would you put money long term under another person's name knowing it circumvents the law and will get messy if something happens?
Return of money is always more important than return on money
There will always be that 10% trying to beat the law. Point is to have the law enforceable such that the other 90% will not be enticed.
(20-11-2013, 11:27 AM)Patrick Lim Wrote: [ -> ]It's an expensive lesson for her.Not sure whether $50k is the minimum or standard penalty.It should be a warning to those who act on "tips" as unwittingly they may also be receiving information not available to the general public
Information not generally not available is not the only criteria. The information must be material and price-sensitive.
The article below gives better understanding of insider trading law.
The Court gives guidance to what comprise of insider trading. If not, the statute does have a very broad definition.
Good article.
http://www.wongpartnership.com/index.php...nload/1005
Must show they are very strict in enforcement , but on small prawn.
(20-11-2013, 01:48 PM)valueinvestor Wrote: [ -> ]Must show they are very strict in enforcement , but on small prawn.
no la. See MAS website. Enforcements quite regular. SFA enforcements take a long time to investigate.
after reading the comments by fellow buddies, it still puzzles me how she was fished out by the authority.
anyone cares to shed any further light?
The most simple answer should be the answer:
1. She declared her transaction as part of AR.
2. SGX conduct routine screening/pattern marching
3. Result of the march - Positive
A Life not Reflected is a Life not Worth Living.
(21-11-2013, 12:35 AM)chialc88 Wrote: [ -> ]The most simple answer should be the answer:
1. She declared her transaction as part of AR.
2. SGX conduct routine screening/pattern marching
3. Result of the march - Positive
A Life not Reflected is a Life not Worth Living.
BTW, declaring a transaction does not make it OK. If you use material, non-public and price-sensitive info, you will still get it.
Hi opmi, exactly my feeling too.
Ms Phua make a mistake.
When there is a mistake, let there be truth.
A Life not Reflected is a Life not Worth Living.