Regulatory Alerts2005-07-01
Added · Updated
Guidelines on Conduct of Business for Execution-Related Advice
The Monetary Authority of Singapore sets standards for dealers and their trading representatives providing execution-related advice on capital markets products. Dealers must maintain adequate systems to ensure recommendations have a reasonable basis, obtain and annually update client profiles, and document client decisions when information is withheld. The guidelines require record-keeping for at least six years, disclosure of conflicts of interest, and prohibit disclaimers from absolving dealers of statutory obligations under the Financial Advisers Act.
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