Regulatory Alerts2018-10-08
Added
Guidelines on Switching of Designated Investment Products [FAA-G10]
The Monetary Authority of Singapore issued these guidelines to regulate licensed and exempt financial advisers regarding the switching of designated investment products. The document mandates specific controls, written disclosures, and monitoring procedures to prevent representatives from advising clients on switches that are detrimental to their interests. It further requires remuneration structures that discourage undesirable switching practices to ensure client protection.
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