Regulatory Alerts2022-11-02
Added · Updated
Guidelines to MAS Notice SFA 04-N16 on Execution of Customers' Orders
These Guidelines, issued by the Monetary Authority of Singapore, apply to all capital markets intermediaries and provide guidance on establishing and implementing Best Execution policies and procedures for customer orders, covering factors such as price, costs, speed, and likelihood of execution. Intermediaries must ensure these policies are approved, periodically reviewed, and disclosed to customers in writing prior to order placement and execution. Additionally, CMS Brokers are prohibited from receiving Payment for Order Flow (PFOF) when placing or executing customer orders, a requirement that takes effect on 1 April 2023.
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