THE Minister in Charge of the Monetary Authority of Singapore (MAS) has reduced prohibition orders (PO) against former Citibank relationship manager, Zheng Xuemei, from two years to one year, following her appeal. Read more at The Business Times.
MAS had issued the POs on the grounds that Ms Zheng had not honestly carried out her duties to her client as an appointed representative of a financial institution, and that her performance as an appointed representative was unsatisfactory.According to MAS, any person aggrieved by its decision to issue a PO against him is entitled to an appeal.
Accordingly, the AAC will conduct a hearing, and may summon any person to give evidence or produce any document necessary for the inquiry, said MAS. MAS and the appellant may also make oral submissions during the hearing, following which the AAC will submit a written report to the minister, which the minister will take into consideration before making his final decision.
Following the hearing by MAS' independent AAC, DPM Tharman has decided to reduce the length of the prohibition orders, MAS said.
Singapore Latest News, Singapore Headlines
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