17.7.1 Criminal penalties in respect of a breach of the insider trading provisions of the Securities and Futures Act are provided for in Section 221 of the Securities and Futures Act. Section 333 of the Securities and Futures Act differentiates between natural persons and corporations in prescribing penalties. A natural person may be fined up to S$250,000 or sent to jail for up to seven years. A corporation may be fined up to twice the maximum amount prescribed for the relevant offence (i.e. S$500,000). In addition, where a corporation or unincorporated association is guilty of an offence under the Securities and Futures Act, any director, executive officer, secretary or similar officer of the corporation or unincorporated association who was knowingly concerned in or party to the commission of the offence shall also be guilty of that offence.