Forum Admin
Moderator:Morten
Ths for inviting me here. Hope we can communicate w/o the noise of those found in other bulletins.
Harsh punishment it seems? Looks like posting thoughts and messages on public domain carries MUCH more responsibilities than we all thought.
Full story from BT... extracts here:
Former trader gets jail for posting false info online
A FORMER stock trader was sentenced to six months in jail yesterday for posting false information online about a locally listed IT firm, Datacraft Asia, in 2004.
In his judgment on Able Wang Ziyi, Justice VK Rajah said that the punishment is a necessary 'deterrent sentence', taking into account the 'strong public interest militating against mischief in the market through the mass media such as the Internet'.
It has been a roller-coaster ride of sorts for Wang, 42, who was first charged in 2006 with spreading a rumour on a popular stockmarket investor forum that the Commercial Affairs Department (CAD) - the police white-collar crime unit - had raided the offices of Datacraft Asia.
The father of two - who now runs a furniture business in Shanghai - was then acquitted in November 2006 after the prosecution failed to prove that he did not care that the information posted was true or false.
The acquittal made the news then for being the first of its kind made under Section 199 of the Securities and Futures Act.
In November 2007, following an appeal by the prosecution, the judge overturned the acquittal, ruling that stock traders should be responsible for what they post online because they risked being prosecuted if the rumour was proven to be false or unsubstantiated.
Full story from BT... extracts here:
Former trader gets jail for posting false info online
A FORMER stock trader was sentenced to six months in jail yesterday for posting false information online about a locally listed IT firm, Datacraft Asia, in 2004.
In his judgment on Able Wang Ziyi, Justice VK Rajah said that the punishment is a necessary 'deterrent sentence', taking into account the 'strong public interest militating against mischief in the market through the mass media such as the Internet'.
It has been a roller-coaster ride of sorts for Wang, 42, who was first charged in 2006 with spreading a rumour on a popular stockmarket investor forum that the Commercial Affairs Department (CAD) - the police white-collar crime unit - had raided the offices of Datacraft Asia.
The father of two - who now runs a furniture business in Shanghai - was then acquitted in November 2006 after the prosecution failed to prove that he did not care that the information posted was true or false.
The acquittal made the news then for being the first of its kind made under Section 199 of the Securities and Futures Act.
In November 2007, following an appeal by the prosecution, the judge overturned the acquittal, ruling that stock traders should be responsible for what they post online because they risked being prosecuted if the rumour was proven to be false or unsubstantiated.
Re: Forum Admin
Hello everyone.
The website is being upgraded. Thanks v much to our best buddy who has the superb IT skill and experience to do this complicated upgrade so swiftly.
He prefers to remain anonymous.
So on behalf of everyone who visit this website regularly... thank v much brother.
Best rgds,
Admin
PS. Also thanks to Morten on volunteering as our moderator here. Kam sia.
The website is being upgraded. Thanks v much to our best buddy who has the superb IT skill and experience to do this complicated upgrade so swiftly.
He prefers to remain anonymous.
So on behalf of everyone who visit this website regularly... thank v much brother.
Best rgds,
Admin
PS. Also thanks to Morten on volunteering as our moderator here. Kam sia.
Re: Forum Admin
Hi admin, I can't find a thread for SM Summit. 
Re: Forum Admin
Admin no longer patrol this website. Abandoned baby... hahaha...
I start the thread for you...
Rgds,
Morten , the Nanny.
I start the thread for you...
Rgds,
Morten , the Nanny.
Re: Forum Admin
Issue on Copyrights
Hello everyone....
To prevent ourselves from any potential copyright liabilities, we urge all users to indicate the originator/s when "cutting and pasting" from other sources.
If its taken from a website, maybe better to copy just a paragraph (or 2) accompanied by a URL link to the full story.
Hello everyone....
To prevent ourselves from any potential copyright liabilities, we urge all users to indicate the originator/s when "cutting and pasting" from other sources.
If its taken from a website, maybe better to copy just a paragraph (or 2) accompanied by a URL link to the full story.
Re: Forum Admin
If you wish to discuss this issue of Copyrights offline, kindly drop us a note at admin@lastdone.com
Re: Forum Admin
To all contributors: MAS warns against spreading false information
Comment by MAS Spokesperson on Market Conditions:
"Following coordinated action from central banks in key jurisdictions yesterday, US$ funding conditions improved overnight and have continued to ease today (Asian time). US$ borrowing rates in Singapore have eased significantly.
Singapore's domestic money and foreign exchange markets have functioned in an orderly fashion through the week. Interest rates in Singapore were stable. Sufficient liquidity was maintained in the banking system and there was no need for extraordinary measures.
As part of our enhanced monitoring, MAS is maintaining close contact with a range of financial institutions. This should not be interpreted as concern about any particular institution.
Given the current uncertainty and volatility in the international financial markets, MAS reminds market participants to be responsible in disseminating information to the market. This includes electronic communications such as emails, commentaries on online forums and blogs.
Disseminating false or misleading information, either knowingly or without considering the accuracy of the information, to induce the sale of securities or affect prices of securities is an offence under the Securities & Futures Act (SFA). It carries a fine not exceeding S$250,000 or jail term not exceeding seven years, or both. We will not hesitate to take action against any party that creates or spreads false rumours which cause disruption to our financial system.
MAS continues to be vigilant and to closely monitor developments in the financial markets and their impact on financial stability. We continue to be in regular communications with other central banks and stand ready to take any action necessary to safeguard financial stability."
http://www.mas.gov.sg/
Comment by MAS Spokesperson on Market Conditions:
"Following coordinated action from central banks in key jurisdictions yesterday, US$ funding conditions improved overnight and have continued to ease today (Asian time). US$ borrowing rates in Singapore have eased significantly.
Singapore's domestic money and foreign exchange markets have functioned in an orderly fashion through the week. Interest rates in Singapore were stable. Sufficient liquidity was maintained in the banking system and there was no need for extraordinary measures.
As part of our enhanced monitoring, MAS is maintaining close contact with a range of financial institutions. This should not be interpreted as concern about any particular institution.
Given the current uncertainty and volatility in the international financial markets, MAS reminds market participants to be responsible in disseminating information to the market. This includes electronic communications such as emails, commentaries on online forums and blogs.
Disseminating false or misleading information, either knowingly or without considering the accuracy of the information, to induce the sale of securities or affect prices of securities is an offence under the Securities & Futures Act (SFA). It carries a fine not exceeding S$250,000 or jail term not exceeding seven years, or both. We will not hesitate to take action against any party that creates or spreads false rumours which cause disruption to our financial system.
MAS continues to be vigilant and to closely monitor developments in the financial markets and their impact on financial stability. We continue to be in regular communications with other central banks and stand ready to take any action necessary to safeguard financial stability."
http://www.mas.gov.sg/