MAS Issues Prohibition Order to UBS Representative Who Forged Emails
A former UBS banker has received a prohibition order from the Monetary Authority of Singapore (MAS) after he was found to have forged documents and emails.
The three-year prohibition order was issued against Paris Michele, a former UBS representative in Singapore. MAS found that Michele had forged documents and company emails to convince UBS that certain clients were tax compliant, when they were not.
While Michele did not profit from the misconduct and UBS did not suffer losses, he was still fined S$13,200. Further, he is prohibited from performing any regulated activity under the Securities and Futures Act (SFA), and from providing any financial advisory service.