Consultation Paper on Draft Regulations Relating to the Sale and Marketing of Investment Products

02 Oct 2013

This update discusses the Monetary Authority of Singapore’s current consultation paper which publishes and seeks feedback on proposed amendments to regulations made under the Securities and Futures Act (“SFA”) and Financial Advisers Act (“FAA”). These proposed amendments are aimed at further enhancing and refining the regulatory regime governing the sale and marketing of investment products and cover the following areas:

(a) the prescribed format and requirements relating to a Product Highlights Sheet (as defined in the SFA);

(b) requiring issuers of unlisted debentures to provide timely and ongoing disclosures to investors;

(c) requiring advertisements of certain offers of securities to give a fair and balanced view of the product and to comply with other restrictions; and

(d) removing exemptions available to Financial Advisers (as defined in the FAA) from complying with certain business conduct requirements under the FAA when providing financial advisory services to overseas investors.

To read the update, please click here