Regulatory Alerts2010-11-26
Added
Notice FAA-N10 Prohibited Representations Made by Persons Exempted under Regulation 27(1)(d) of the Financial Advisers Regulations
The Monetary Authority of Singapore issued Notice FAA-N10 to prohibit exempt persons and their representatives from representing themselves as licensed, regulated, supervised, or registered by the Authority. This prohibition applies to any verbal or written communications regarding their exempt status under the Financial Advisers Act. Contravention of this notice constitutes an offence punishable by a fine of up to $25,000 and a continuing daily fine of $2,500.
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