MAS issues 5-year prohibition order against Pan Qi

Qi was sentenced to 5 weeks’ imprisonment and fined $120,000 in 2023.

The Monetary Authority of Singapore (MAS) has issued a 5-year prohibition order against Pan Qi, a former representative of Nech Capital (NCPL), following his conviction.

Pan is prohibited from performing any regulated activity and taking part in the management, acting as a director, or becoming a substantial shareholder of any capital markets services firm under the Securities and Futures Act (SFA).

Whilst working as a trader for fund management company Nech Capital, Pan executed trades in several securities counters between NCPL trading accounts and accounts belonging to his relatives.

Pan is said to have conducted trades that profited him at the expense of NCPL.

On 25 April 2023, Pan was convicted of one count of section 201(b) of the SFA, with two other counts of section 201(b) of the SFA taken into consideration for the purpose of sentencing. He was convicted for "engaging in a course of business that operated as fraud under the Securities and Futures Act," MAS said.

He was sentenced to five weeks’ imprisonment and a fine of $120,000.

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Monetary Authority of Singapore

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