In first, Singapore jails 'front-runners' for insider trading

From reuters.com

Singapore convicted three people for “front-running” under insider trading laws on Wednesday, the central bank said, in the first case of its kind in the city-state. The Monetary Authority of Singapore (MAS) said Leong Chee Wai, E Seck Peng Simon and Toh Chew Leong were convicted and sentenced to 36 months, 30 months and 20 months in prison. “This is the first case of front-running prosecuted as an insider trading offense in Singapore, which carries a more severe penalty,” the MAS said in a statement. Front-running is the practise of trading on securities using advanced knowledge of pending orders to ... (full story)