SINGAPORE (May 9): Woon Kok Yan, head of risk management of OCBC Securities, placed the blame squarely on trade representatives for failing to obtain formal third-party authorisation, when he took the stand in court on Day 13 of the penny stock manipulation trial of John Soh Chee Wen and Quah Su-Ling.

In his conditional statement, Woon cited the terms and conditions for account openings, as well as the SGX-ST rulebook, as rules for account holders to abide, including giving formal third-party authorisation.

Deputy public prosecutor Ng Jean Ting then asked Woon about the contents of OCBC Securities’ third-party authorisation form.

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