Regulatory Alerts2011-04-19
Added
Notice on the Cancellation Period for Unlisted Debentures [SFA 04/13-N02]
The Monetary Authority of Singapore issued this notice to mandate that licensed and exempt persons provide investors with a right to cancel unlisted debenture purchase agreements within seven calendar days. The regulation requires relevant persons to conduct due diligence on issuers and provide clear, written notice detailing the cancellation process, refund adjustments, and associated expenses before the agreement is concluded. It further specifies that investors may exercise this right via ordinary post and that refunds may be adjusted for market value changes and reasonable expenses, but no sales charges or penalties can be imposed.
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