Financial adviser under CAD probe
She's quizzed over practising without a licence; allegedly owes clients $20m
Published on Apr 9, 2012
By Jalelah Abu Baker
A financial adviser who allegedly owes her clients more than $20 million is being investigated by the Commercial Affairs Department for practising without a licence.
The 50-year-old, who spoke to The Straits Times on condition of anonymity, said she did not know she needed one and feared the publicity would affect her business.
She was called in for questioning by the department last October.
She invests on her clients' behalf in funds, equities and shares, which means she requires a licence under the Financial Advisers Act.
Read the full story in Monday's edition of The Straits Times.
