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MAS responds to feedback on the recommendations of the Financial Advisory Industry Review

09 Oct 2013

This update discusses the Monetary Authority of Singapore’s response (“MAS Reponse”) to feedback received in respect of its earlier consult on the recommendations of the Financial Advisory Industry Review (“FAIR”) panel. The MAS Response was published on 30 September 2013. The FAIR panel had originally grouped its recommendations into five key thrusts. The MAS Response and this update follows the same format, and these are:

(a) Raising the competence of financial advisory (“FA”) representatives;

(b) Raising the quality of FA firms;

(c) Making financial advising a dedicated service;

(d) Lowering distribution costs; and

(e) Promoting a culture of fair dealing.

To read the update, please click here.