Khoo’s licence was revoked under Section 72, read together with Section 65 of the Capital Markets and Services Act 2007 (CMSA) for engaging in business practices appearing to the Commission to be deceitful or otherwise improper. In this regard, he was found to have facilitated the misutilisation of his clients’ monies by his assistant. In addition, Khoo had also failed to carry out his clients’ instruction relating to disposal of certain shares.

Khoo has not filed any appeal against the SC’s decision within the prescribed time provided in the CMSA.