Singapore’s central bank said its victory in the country’s first civil lawsuit for stock rigging against fund manager Tan Chong Koay and Pheim Asset Management Sdn. shows its determination to enforce market rules.Tan and his Malaysian fund management company were fined S$250,000 ($187,000) each for manipulating United Envirotech Ltd.’s share price in December 2004 to maintain their performance benchmarks and boost their reputation, according to a Sept. 17 ruling by Justice Lai Siu Chiu. Full story
