Regulatory Alerts2025-01-24
Added
Notice FAA-N14 Reporting of Misconduct of Representatives by Financial Advisers
The Monetary Authority of Singapore issued Notice FAA-N14 to mandate licensed financial advisers to report specific misconduct committed by their representatives. The notice requires immediate reporting of fraud, dishonesty, inappropriate advice, or failure to meet fit and proper criteria, along with submission of annual nil returns if no incidents occur. Financial advisers must conduct internal investigations, maintain records, and take appropriate disciplinary actions while providing updates to the Authority through MASNET.
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