SINGAPORE (Kyodo) The Monetary Authority of Singapore could withdraw its approval for fund manager Yoshiaki Murakami to operate his fund from the city-state in light of his alleged embroilment in an insider-trading scandal in Japan, according to sources.
Murakami was charged Friday with insider trading linked with his fund's purchases of shares in a radio broadcaster from November 2004 to January 2005.
His indictment puts the fate of MAC Asset Management Pte., the investment firm he established in Singapore earlier this year, in doubt.