Singapore MAS Issues 5-Year Ban on 2 Individuals from AIA & Professional Investment Advisory Services for Insurance Cheating Offences after Court Conv
Singapore | Leading financial centre in Asia Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2023 Investment Day | 2023 Family Office Summits | Family Office Circle This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion. 
Singapore MAS Issues 5-Year Ban on 2 Individuals from AIA & Professional Investment Advisory Services for Insurance Cheating Offences after Court Conviction & Total Jail of 3 Weeks, Submitted a Claim of S$1,128 to Manulife for Leg Injury Accident Which Took Place Before Applying for Manulife Insurance 19th October 2023 | Hong Kong
The Monetary Authority of Singapore (MAS) has issued a 5-year ban on 2 individuals (Quek Puay Yi, Huang Hsin Tian Silver,) formerly from AIA and Professional Investment Advisory Services (PIAS) for insurance cheating offences after Singapore court conviction and total jail of 3 weeks, submitting a claim of S$1,128 to Manulife for a leg injury accident which took place before applying for Manulife insurance. Singapore MAS: “The Monetary Authority of Singapore (MAS) has issued 5-year prohibition orders (POs) against Ms Quek Puay Yi, Patricia, a former representative of AIA Singapore Private Limited, and Ms Huang Hsin Tian Silver, a former representative of Professional Investment Advisory Services Pte Ltd. The POs were issued following their convictions in the State Courts for cheating offences. In July 2020, Ms Quek purchased an insurance policy from Manulife (Singapore) Pte Ltd (Manulife) with Ms Huang’s assistance, after sustaining a leg injury in an accident. Once the policy came into force, they submitted a claim of $1,128.57 to Manulife for Ms Quek’s leg injury, despite knowing that the accident had taken place before Ms Quek applied for the Manulife policy. Manulife discovered the fraudulent insurance claim before any payout was made. In May 2022, Ms Quek and Ms Huang were each convicted of one count of cheating with abetment under section 417 and section 116(1) of the Penal Code. They were sentenced to two weeks’ and one week imprisonment respectively.” More info below:
“ Singapore MAS Issues 5-Year Ban on 2 Individuals from AIA & Professional Investment Advisory Services for Insurance Cheating Offences after Court Conviction & Total Jail of 3 Weeks, Submitted a Claim of S$1,128 toManulife for Leg Injury Accident Which Took Place Before Applying for Manulife Insurance “
- Article continues below - Quick Links, Ads & Announcements Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2023 Investment Day | 2023 Family Office Summits | Family Office Circle Sign Up Basic Member: $5 Monthly | $60 Yearly Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680) The 2024 Investment Day | 5/3 HK & 12/3 SG Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 5th March 2024 in Hong Kong, 12th March 2024 in Singapore. Visit | Register here The 2023 Family Office Summit | 25/10 HK & 8/11 SG Join 100+ single family offices & family office professionals in Hong Kong & Singapore Links: 2023 Family Office Summit | Register here
Singapore MAS Issues 5-Year Ban on 2 Individuals from AIA & Professional Investment Advisory Services for Insurance Cheating Offences after Court Conviction & Total Jail of 3 Weeks
Singapore | Leading financial centre in Asia 16th October 2023 – The Monetary Authority of Singapore (MAS) has issued 5-year prohibition orders (POs) against Ms Quek Puay Yi, Patricia, a former representative of AIA Singapore Private Limited, and Ms Huang Hsin Tian Silver, a former representative of Professional Investment Advisory Services Pte Ltd. The POs were issued following their convictions in the State Courts for cheating offences.
With effect from 16 October 2023, Ms Quek and Ms Huang are prohibited from providing any financial advisory services, and from taking part in the management, acting as a director, or becoming a substantial shareholder, of any financial advisory firm under the Financial Advisers Act 2001. They are also prohibited from carrying on business as, and from taking part in the management of, any insurance intermediary under the Insurance Act 1966.
- In July 2020, Ms Quek purchased an insurance policy from Manulife (Singapore) Pte Ltd (Manulife) with Ms Huang’s assistance, after sustaining a leg injury in an accident. Once the policy came into force, they submitted a claim of $1,128.57 to Manulife for Ms Quek’s leg injury, despite knowing that the accident had taken place before Ms Quek applied for the Manulife policy. Manulife discovered the fraudulent insurance claim before any payout was made.
- In May 2022, Ms Quek and Ms Huang were each convicted of one count of cheating with abetment under section 417 and section 116(1) of the Penal Code. They were sentenced to two weeks’ and one week imprisonment respectively. Ms Quek and Ms Huang’s convictions have given MAS reason to believe that they have not, and will not, honestly perform the type of financial advisory service for which they were appointed.
You are:
InvestorProfessionalFamily OfficeExecutive
Select:
SubscriptionMembershipEvents
Interests / Events / Summits / Roundtables / Networking:
Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights
Your Name*
Company*
Job Title*
Email 1 (Work / Personal)*
Email 2 (Work / Personal)
Country
New to Caproasia Learn More | Sign Up | Subscribe | Register Events Caproasia Users - Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
- Professional Investor
- Family Office
- HNW Partnership
- Family Office Circle
- Family Office Networking
- Family Office Roundtable
- The Family Office Summit
- 28th March 2023 - Hong Kong
- 4th April 2023 - Singapore
- April 2023 - Virtual
- 6th June 2023 - Hong Kong
- 13th June 2023 - Singapore
- Sept 2023 - Hong Kong
- Oct 2023 - Singapore
- Oct 2023 - Hong Kong
- Visit: The Investment Day | Register: Click here
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.