Regulatory Alerts2021-06-29
Added
Financial Advisers Regulations
The Monetary Authority of Singapore issued the Financial Advisers Regulations to establish comprehensive licensing, conduct, and financial requirements for licensed and exempt financial advisers and their representatives. The regulations define permissible non-financial advisory services, mandate the handling of customer moneys and assets, and outline specific compliance obligations through various schedules detailing fees, product standards, and prohibited advertising practices. These rules are supported by a Compliance Toolkit and subsequent consultation papers aimed at enhancing safeguards for digital marketing, raising representative competency, and promoting fair dealing in the financial advisory sector.
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