MAS Fines Eurofin Investments $70,000 for Regulatory Breaches

MAS Enforcement Actions

Filed January 5th, 2026

Detected March 18th, 2026

Summary

The Monetary Authority of Singapore (MAS) has fined Eurofin Investments Pte Ltd (EIPL) $70,000 for breaches of the Securities and Futures Act and Regulations. MAS also issued a one-year Prohibition Order against EIPL's former CEO, Mr. Dotta, and a reprimand against the former Chief Risk Officer, Mr. Schappler.

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What changed

The Monetary Authority of Singapore (MAS) has imposed a composition fine of $70,000 on Eurofin Investments Pte Ltd (EIPL) for significant regulatory breaches. These include failing to establish an adequate risk management framework, failing to mitigate or disclose conflicts of interest in relation to managed funds, and allowing unlicensed individuals to conduct regulated activities. EIPL has ceased to be a holder of a Capital Markets Services Licence as of December 30, 2025.

Furthermore, MAS has issued a one-year Prohibition Order against EIPL's former CEO, Mr. Francois Pierre Michel Dotta, effective December 23, 2025, prohibiting him from engaging in regulated activities or managing financial institutions. A reprimand was also issued to the former Chief Risk Officer, Mr. Clement Georges Schappler, for similar compliance failures. These actions highlight the strict oversight MAS maintains over licensed entities and their senior management regarding risk management, disclosure, and proper appointment of representatives.

What to do next

Review internal risk management frameworks for adequacy in identifying, addressing, and monitoring risks.
Ensure all conflicts of interest are properly mitigated and disclosed to investors.
Verify that all individuals conducting regulated activities are appointed representatives and appropriately licensed.

Penalties

Composition fine of $70,000 against Eurofin Investments Pte Ltd. One-year Prohibition Order against Mr. Francois Pierre Michel Dotta. Reprimand against Mr. Clement Georges Schappler.

Source document (simplified)

Decrease font size Increase font size Print this page Enforcement Actions Published Date: 05 January 2026

MAS takes Enforcement Actions against Eurofin Investments Pte Ltd and its Senior Management for Breaches of MAS Regulations

Singapore, 5 January 2026… The Monetary Authority of Singapore (MAS) has issued a composition fine of $70,000 against Eurofin Investments Pte Ltd (EIPL) for breaches under the Securities and Futures Act (SFA) and the Securities and Futures (Licensing and Conduct of Business) Regulations (SFR).

2 EIPL committed the following breaches under the SFA and SFR:

a. EIPL failed to put in place a risk management framework that adequately identified, addressed and monitored the risks associated with the assets managed by EIPL. These failures include credit risks relating to the classification and upgrading of restructured loan, as well as management of guarantee for credit facilities.

b. EIPL failed to mitigate and/or disclose conflicts of interest in relation to three of its managed funds to its investors. In one instance, it was found that EIPL’s directors had participated in decisions for its fund to finance entities which they have indirect interests in, without mitigating or disclosing the conflict of interest.

c. EIPL permitted nine individuals to conduct regulated activities and/or activities of fund management on behalf of EIPL, despite not being appointed representatives.

3 As of 30 December 2025, EIPL ceased to be a holder of a Capital Markets Services Licence.

EIPL’s CEO, Mr Dotta

4 MAS has also issued a 1-year Prohibition Order (PO) against Mr Francois Pierre Michel Dotta, who was the CEO at the material time. MAS found that Mr Dotta failed, as CEO of EIPL, to take all reasonable steps to ensure EIPL’s compliance with the SFR. In view of his failure, MAS is satisfied that Mr Dotta is not a fit and proper person, in accordance with the Guidelines on Fit and Proper Criteria under Section 7 of the Financial Services and Markets Act 2022 (FSMA).

5 Under the terms of the PO, which took effect on 23 December 2025, Mr Dotta is prohibited from carrying on any activity or business, or providing any service, the carrying on or provision of which is regulated or authorised by the Authority, and from taking part, directly or indirectly, in the management of or acting as a director, partner, or manager of any financial institution, and performing the function of risk management and control. For the same duration, he is also prohibited from becoming a substantial shareholder of any financial institution that is a corporation, and if he is already a substantial shareholder of a FI that is a corporation, from acquiring any interest in any voting share in the FI other than a voting share in which he already has an interest.

EIPL’s former Chief Risk Officer, Mr Schappler

6 MAS has issued a reprimand against Mr Clement Georges Schappler, EIPL’s Chief Risk Officer and Chief Operating Officer during the material time, for his failure to take all reasonable steps to ensure EIPL’s compliance with the SFR.