Regulatory Alerts2024-05-30
Added
Guidelines on Fair Dealing - Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers
The Monetary Authority of Singapore issued these guidelines to define the responsibilities of boards and senior management in ensuring fair dealing outcomes for customers across all financial institutions. The document outlines five specific fair dealing outcomes and provides key principles, good practices, and self-assessment tools for various stages of the product life cycle. It supersedes previous guidelines and establishes supervisory expectations for prospecting, advisory processes, vulnerable customer safeguards, and complaints handling.
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