Havenport Investments Pte Ltd
Singapore
The Monetary Authority of Singapore on May 18, 2026, reprimanded two senior managers at Havenport Investments Pte Ltd (HIPL) for failing to discharge their duties, including ensuring the firm complied with MAS regulations. MAS also imposed a $40,000 composition fine on HIPL. The individuals named were CEO Tan Keng Sin Patrick and Executive Director Tern Yuh Sheng Joseph.
HIPL's breaches included failing to maintain an adequate risk management framework, breaching its base capital requirement, and not reporting that non-compliance to MAS. The firm also violated Capital Markets Services licence conditions by launching a product without MAS approval and failing to ensure retail investors received independent financial advice. HIPL ceased its retail fund management business and has been barred from managing retail investors' money since Jul 18, 2024.
- Underscores personal accountability of senior management at MAS-regulated financial institutions
- Relevant for BaaS and fintech firms partnering with Singapore-regulated entities
- Signals MAS enforcement focus on governance and compliance duties
- OfficialMAS Enforcement Actions