Regulatory Alerts2019-08-30
Added
Notice FAA-N19 Distribution of Direct Purchase Insurance Products
The Monetary Authority of Singapore issued Notice FAA-N19 to regulate licensed and exempt financial advisers and their representatives regarding the distribution of direct purchase insurance products. The notice mandates the implementation of specific safeguards, internal policies, and clear role definitions to ensure proper product information disclosure and query resolution. These requirements aim to protect client interests and promote fair dealing practices in the financial advisory sector.