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MAS Bans Roger Ng for Life

MAS Bans Roger Ng for Life

by Starling Insights

Starling Insights Editorial Board

Sep 18, 2023

Observations

MAS Singapore Culture & Consequences Culture & Misconduct Culture & Conduct Supervision Personal Liability & Accountability The Era of Accountability Regulatory Trends

Earlier this month, the Monetary Authority of Singapore (MAS) issued a lifetime prohibition order against Ng Chong Hwa, also known as Roger Ng, a former Managing Director for Goldman Sachs in Singapore. The action, which prevents Ng from ever working in the financial industry again, follows his conviction in the United States for conspiring to launder embezzled funds from 1Malaysia Development Bhd (1MDB) and violating the Foreign Corrupt Practices Act.

"Mr Ng's severe misconduct has given MAS reason to believe that it would be contrary to public interest to allow him to carry on business as a representative," MAS wrote.

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