Regulatory Alerts2011-04-19
Added
Notice FAA-N15 Cancellation Period of Unlisted Debentures
The Monetary Authority of Singapore issued Notice FAA-N15 to regulate the sale of unlisted debentures by financial advisers and related persons. The notice mandates that relevant persons must ensure debentures include a cancellation right, conduct due diligence on issuers, and disclose specific terms and risks to clients. These requirements apply to licensed advisers and exempt entities, excluding short-tenure debentures, prospectus-exempt instruments, and non-individual clients.
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