Regulatory Alerts2021-12-03
Added
Securities and Futures (Classes of Investors) (Amendment) Regulations 2021
The Monetary Authority of Singapore issued these Regulations to amend the definition of consent provisions in the Securities and Futures (Classes of Investors) Regulations 2018 by including the Financial Advisers (Complaints Handling and Resolution) Regulations 2021. The rules establish transitional provisions for individuals treated as accredited investors before 3 January 2022, allowing them to continue this status provided they do not opt out and receive specific plain-language statements from their financial advisers. These statements must explain the implications of the new consent provision and inform investors of their right to withdraw consent, with the transitional treatment ceasing if required disclosures are not made by 3 April 2022.