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Consultation Paper on Proposed Amendments to the Financial Advisers Regulations
MAS is currently inviting comments to some proposed changes to the Financial Advisers Act. Comments can be sent to [email protected] or 6225-4063 (Fax) by 26th November 2010. The two changes include: 1) Prohibiting bank tellers from referring customers to representatives for the purchase of investment products. 2) Requiring all financial advisers (ie the firm) to […]
MAS Macroeconomic Review October 2010
The Macroeconomic Review is published twice a year in conjunction with the release of the MAS Monetary Policy Statement (MPS). The purpose of the Review is to provide information on the Economic Policy Group’s background analysis and assessment of GDP growth and inflation developments in the Singapore economy, and in doing so, to share with […]
Changes to Regulatory Regime for Listed and Unlisted Investment Products
Earlier this year, MAS published a consultation paper to seek feedback from the public on some changes to the regulatory regime for listed and unlisted investment products. MAS has just released their feedback to this consultation. Currently, there are certain measures in place: ‘Know Your Client’ process for Clients Documentation and Record Keeping Representatives are […]
No More Licensing For Financial Adviser Representatives
Under the current Financial Advisers Act (FAA), financial adviser representatives of independent financial advisory firms had to obtain individual licenses from MAS. A new adviser wanting to enter the business therefore will need to submit an application to MAS for their screening and approval. On the other hand, those who are employed from banks or […]
MAS Monetary Policy Statement Oct 2010
Yesterday, MAS released their monetary policy statement for the second half of this year. With the risks weighted towards inflation, MAS will continue with the policy of a modest and gradual appreciation of the S$NEER policy band in the period ahead. The slope of the policy band will be increased slightly, with no change to […]