It is shocking because it could happen even in famously strict Singapore.
This is why I would recommend investing money only in non-discretionary accounts where the clients are not only kept in the loop of recommended trades, but also have to approve them before they are executed. This structure fosters a high level of transparency. The only down-side is that the client must invest a little bit of his/her own time to understand and approve the transactions. And some time lost in while waiting for the client to approve. This author believes that time and effort is well worth it, as the article below demonstrates.
