SINGAPORE (May 9): Woon Kok Yan, head of risk management of OCBC Securities, placed the blame squarely on trade representatives for failing to obtain formal third-party authorisation, when he took the stand in court on Day 13 of the penny stock manipulation trial of John Soh Chee Wen and Quah Su-Ling.
In his conditional statement, Woon cited the terms and conditions for account openings, as well as the SGX-ST rulebook, as rules for account holders to abide, including giving formal third-party authorisation.
Deputy public prosecutor Ng Jean Ting Woon then asked Woon about the contents of OCBC Securities’ third-party authorisation form.
Woon said information required by the form included the third party’s name, address, NRIC number and...(click on link for full story on theedgesingapore.com)