MAS Issues 7-Year Prohibition Order Against Former Fund Manager

MAS Enforcement Actions

Filed January 14th, 2026

Detected March 18th, 2026

Summary

The Monetary Authority of Singapore (MAS) has issued a 7-year prohibition order against Mr Sun Weiyeh, a former fund manager. The order follows his conviction for defrauding investors in a fund he managed, resulting in a loss of US$342,500.

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What changed

The Monetary Authority of Singapore (MAS) has issued a 7-year prohibition order (PO) against Mr Sun Weiyeh, a former fund manager and director of One Asia Investment Partners (OAIP). The PO, effective January 9, 2026, prohibits Mr Sun from engaging in any MAS-regulated activity or managing any financial institution. This action stems from his conviction in July 2024 for intentionally selling bonds from a fund he managed at below-market prices to another fund where he was the majority shareholder, causing a loss of US$342,500 to external investors. His conviction was upheld on appeal in July 2025, along with a 6-month imprisonment sentence.

This enforcement action signifies that Mr Sun is deemed not a fit and proper person to operate within Singapore's financial sector. Regulated entities should be aware of this action as it highlights MAS's commitment to upholding market integrity and protecting investors. While this order directly impacts Mr Sun, it serves as a reminder to all financial institutions and their employees about the severe consequences of fraudulent activities and the importance of adhering to fit and proper criteria. There are no immediate compliance actions required for other entities, but this reinforces the need for robust internal controls and ethical conduct.

Penalties

7-year prohibition order, 6-month imprisonment sentence

Source document (simplified)

Decrease font size Increase font size Print this page Enforcement Actions Published Date: 14 January 2026

MAS Issues Prohibition Order against Mr Sun Weiyeh

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).

2 Mr Sun intentionally sold two over-the-counter 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 2024 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 business from participating (directly or indirectly) in the management of any financial institution, and from acting as a director, partner or manager, of any financial institution. 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 assets.