This comes amidst speculative activities in the US stock market.
The Monetary Authority of Singapore (MAS) and the Singapore Exchange Regulation (SGX RegCo) have advised the investing public to be on a heightened alert to the risks related to trading in securities incited by online discussion forums and social media chat groups.
In a joint statement, the agencies have noted investor interest in Singapore in recent activities in US markets relating to stocks such as GameStop, AMC Entertainment Holdings, and BlackBerry, with discussions in online websites and platforms suggesting the possibilities for similar speculative activities in the Singapore stock market.
“Investors should make sure they refrain from conduct that could infringe the SFA (Securities and Futures Act). Firm action will be taken against those who breach the SFA or other laws and regulations,” they said.
MAS and SGX RegCo are closely monitoring market activities for signs of false trading or other forms of misconduct. Restrictions may be placed on the trading accounts of those suspected of such misconduct and the relevant securities may be placed under designation or suspension.
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