The Monetary Authority of Singapore said it sanctioned Vincent Rajiv Louis, a former managing director of UBS Group AG’s Indonesian branch, for insider trading in the shares of Indonesia’s PT Bank Danamon.
Rajiv, who resides in Indonesia, agreed to pay a civil penalty of S$434,912 (U.S.$315,549) without court action, the MAS said in a statement Oct. 14.
Danamon is listed on Indonesia’s Jakarta Stock Exchange.
The MAS said Rajiv bought Danamon shares on March 30, 2012, through his wife’s bank account in Singapore after obtaining non-public information on the proposed acquisition of Danamon by DBS Group Holdings Ltd. After DBS ...
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