Regulatory Alerts2018-10-08
Added
Financial Advisers (Remuneration) (Amendment) Regulations 2017
The Monetary Authority of Singapore issued these regulations to amend the Financial Advisers (Remuneration) Regulations 2015, introducing new definitions for life policies and variable income to better regulate financial adviser compensation. The amendments impose strict conditions on the remuneration that relevant persons can accept for the sale of relevant life policies, including requirements for payment deferral, caps on upfront payments, and specific calculation methods for investment-linked products. These measures aim to mitigate conflicts of interest by ensuring that remuneration structures align with long-term client interests rather than short-term sales volume.
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