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in the case of regulation 39, has the meaning as in regulation 40B; and (b) in any other case, means a licensed financial adviser or an exempt financial adviser mentioned in section 20(1)(a), (b), (c), (e), (f) or (g) of the Act;
Regulatory and Supervisory Approach. MAS is the integrated regulator and supervisor of financial institutions in Singapore. MAS establishes rules for financial institutions which are implemented through legislation, regulations, directions and notices. Guidelines have also been formulated to encourage best practices among financial institutions.
2020 REVISED EDITION. This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021. An Act to regulate financial advisers and their representatives and supervisors, and for other purposes relating thereto or connected therewith. [18/2015] [6 August 2002: Section 106 ;
(1) The businesses that are prescribed for the purposes of section 60 (1) (e) of the Act which a licensed financial adviser may carry on, or may enter into any partnership, joint venture or any other arrangement with any person to carry on, are set out in paragraphs (2), (4) and (5). [S 222/2023 wef 31/12/2021]
“financial adviser” means a licensed financial adviser or an exempt financial adviser which carries on the business of arranging contracts of insurance in respect of life policies.
—(1) A person (not being an individual, a licensed financial adviser or a person exempt under section 20(1)(a), (b), (c), (d) or (e) of the Act) shall be exempt under section 20(1)(g) of the Act from holding a financial adviser’s licence (referred to in this regulation as an introducer) in respect of all introducing activities it carries ...
(a) a new financial adviser’s licence or representative’s licence; (b) additional type(s) of financial advisory service under their existing licences;
—(1) Subject to paragraphs (2) and (3), the Authority hereby exempts any bank in Singapore or any merchant bank, which has notified the Authority under regulation 37 of the Financial Advisers Regulations (Rg 2) of the commencement of its business as a financial adviser, from sections 25 to 29 and 36 of the Act in respect of the provision of ...
1. Integrity. 1.1 A financial adviser should conduct its business with honesty, fairness, integrity and professionalism in order to maintain good faith and to preserve public trust in the financial services industry.
FINANCIAL ADVISERS ACT (CAP. 110) INFORMATION PAPER ON GOOD PRACTICES FOR LICENSED AND EXEMPT FINANCIAL ADVISERS. CONTENTS . Introduction. Advisory and Sales Practices. 2.1 Needs-based sales process. 2.2 Use of electronic financial planning tools. 2.3 Sales conducted with clients with limited knowledge of investment products.
