What happened to S.A.M. Trade?
Samtrade FX is being jointly investigated by the Commercial Affairs Department (CAD) of the Singapore Police Force and the Monetary Authority of Singapore (MAS) for possible offences under Section 82 of the Securities and Futures Act 2001.
Is Samtrade FX regulated?
Samtrade FX Limited and its related entities are not licensed by MAS and have been placed on MAS' Investors Alert List since July 2021, said the authorities. The Investor Alert List provides a list of unregulated persons who may have been wrongly perceived as being licensed or regulated by MAS.
Is S.A.M. Trade regulated in Singapore?
According to MAS, the agency will further review and take necessary actions if its inspection uncovers lapses or Samtrade FX had breached regulations. Of the group of companies, no entity is regulated in Singapore as a capital markets services licensee.
Where is S.A.M. Trade registered?
St Vincent and the Grenadines