The tradingactivityis subject tofinancialregulationwhose objectiveistoprotectclients, and identifyandprosecutebreaches ofrelevantlaws on marketmisconduct, for example, insider trading.
The fine was the first levied against a major corporation by Singapore's central bank, the Monetary Authority of Singapore, under rules governing marketmisconduct introduced last year.
During his time in Hong Kong, Mr. Wheatley, 52 years old, earned a reputation as a proactive enforcer, combating insider trading and other marketmisconduct, as well as boosting the commission's standing in Hong Kong and abroad.