Why 2 Singapore directors fined

Two directors were fined $330,000 under the Securities and Futures Act.

Their offences? For giving misleading statements to SGX (Singapore Exchange) and for insider trading.

The fines are peanuts to them. To protect investors the courts should hand down custodial sentences. In this case they could have been jailed up to 7 years.

People will think twice and very very carefully, if a spell in Changi prison is mandatory. If one steals even 10 dollars, one squats in a jail perhaps for a week. If company directors cause people to lose thousands if not million of dollars shouldn’t they be facing the four walls of a prison as well?

Only stiffer sentences for this sort of offences can investors feel safe.

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