Issuance of Response to Consultation Paper on Revised Notices on Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act

Circular No.: FAS 19/2025 30 December 2025 To: Chief Executive Officers [All Licensed Financial Advisers, Exempt Financial Advisers, Holders of Capital Markets Services Licence, Exempt Capital Markets Services Entities, Registered Insurance Brokers, Exempt Insurance Brokers and Licensed Direct Insurers] Dear Sir/Madam ISSUANCE OF RESPONSE TO CONSULTATION PAPER ON REVISED NOTICES ON MISCONDUCT REPORTING REQUIREMENTS UNDER THE FINANCIAL ADVISERS ACT, INSURANCE ACT AND SECURITIES AND FUTURES ACT On 19 April 2022, MAS issued a consultation paper to seek feedback on the proposed legislative amendments on the revised misconduct reporting requirements for representatives and broking staff under the Financial Advisers Act 2001, Insurance Act 1966 and Securities and Futures Act 2001. MAS would like to thank all respondents for their feedback. We have carefully considered the comments received and our response to the consultation feedback is available at this Link on MAS’ website. 2 The following revised Notices have also been issued on 30 December 2025 and can be found on MAS’ website at the links below. The revised Notices will come into effect on 1 January 2027, providing a one-year period for financial institutions to prepare for compliance: a) FAA-N27 Notice on Reporting of Misconduct of Representatives by Financial Advisers: Link; b) MAS 508 Notice on Reporting of Misconduct of Broking Staff by Insurance Brokers and of Representatives by Accident and Health Insurance Intermediaries: Link; and c) SFA 04-N24 Notice on Reporting of Misconduct of Representatives by Holders of Capital Markets Services Licence and Exempt Persons: Link. 3 Please contact your MAS Review Officer if you require any clarification. Yours faithfully (Sent via MAS-Tx) KOH HONG ENG EXECUTIVE DIRECTOR FINANCIAL ADVISERS SUPERVISION DEPARTMENT