Singapore, 14 January 2026… The Monetary Authority of Singapore (MAS) has issued a 7-year prohibition order (PO) under the Financial Services and Markets Act 2022 (FSMA) against Mr Sun Weiyeh, a former fund manager and director of One Asia Investment Partners (OAIP)OAIP was a fund management company licensed by the Monetary Authority of Singapore (MAS) under the SFA. MAS revoked OAIP’s licence in April 2017 after it was issued with a winding up order by the High Court of Singapore [link ]..
2 Mr Sun intentionally sold two over-the-counterMIEHOL 180206 Mie Holdings Corp 2013/2018 and MIEHOL 190425 Mie Holdings Corp 2014/2019. bonds at lower prices from a fund managed by OAIP (Fund A), which was majority held by external investors, to another OAIP-managed fund, of which he was the majority shareholder. He did this while knowing that there were higher prices quoted for the bonds, causing a loss of US$342,500 to investors in Fund A. Subsequently, Mr Sun resold the two bonds to the market at a profit.
3 Mr Sun was charged and convicted in July 2024This is the first conviction under the Securities and Futures Act for fraudulent conduct relating to over-the-counter bond trading. The related media release can be assessed at this [link ]. of committing acts which were likely to operate as a fraud on Fund A’s investors. On appeal, the High Court in July 2025 upheld his conviction and the 6-month imprisonment sentence imposed by the State Courts. In view of his offences, MAS is satisfied that Mr Sun is not a fit and proper person, in accordance with the Guidelines on Fit and Proper Criteria under section 7 of the FSMA.
4 Under the PO, effective 9 January 2026, Mr Sun is prohibited for 7 years from carrying on or providing any MAS regulated or authorised activity or businessAs defined in section 2 of the FSMA. from participating (directly or indirectly) in the management of any financial institution, and from acting as a director, partner or manager, of any financial institutionAs defined in section 2 of the FSMA.. He is also prohibited from becoming, or increasing his interest as a substantial shareholder of any financial institution that is a corporation, and from performing any function involving handling of funds or assetsAs defined in section 6 of the FSMA..
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