Regulatory Alerts2025-12-30
Added
Notice on Reporting of Misconduct of Representatives by Financial Advisers
The Monetary Authority of Singapore issued Notice FAA-N27 to replace the previous misconduct reporting framework, requiring all licensed financial advisers to report representative misconduct via an electronic system starting 1 January 2027. Financial advisers must submit a Misconduct Report within 21 days of forming reasonable grounds to believe misconduct occurred, alongside an Investigation Report detailing internal assessments or police involvement. The regulation also mandates timely updates for significant developments, requires providing copies of reports to the involved representatives, and imposes strict record-keeping obligations for internal investigations and corrective actions.
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