Regulatory Alerts2019-07-10
Added · Updated
Guidelines on Provision of Financial Advisory Service
The Monetary Authority of Singapore issued these guidelines to clarify the definition of financial advisory services under the Financial Advisers Act. The document establishes a two-stage test to determine if an activity constitutes regulated advice, focusing on whether it expresses an opinion on investment products and if the provider is carrying on a business. It further specifies exemptions for passive distribution of research reports and generic portfolio allocation advice that does not target specific investment products.
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