Monetary Authority of Singapore Annual Report 2011/2012
Our Work

Enhancing Regulatory Regime to Raise Market Conduct Standards and Safeguarding Interests of Retail Investors and Public

On 28 July 2011, MAS introduced stronger measures and enhanced requirements to further safeguard customers’ interests. These included requirements for intermediaries to assess a retail customer’s knowledge and experience before selling Specified Investment Products (SIPs) to the customer. Customers who lack the relevant knowledge or experience in SIPs must be given financial advice before purchasing the products (for unlisted SIPs), or an explanation of the general features and risks associated with investing in derivatives (for listed SIPs). These requirements took effect on 1 January 2012.

On 19 October 2011, MAS also introduced three new Capital Markets and Financial Advisory Services examination modules on product knowledge and analysis. Representatives of intermediaries who deal in or advise on SIPs are required to pass the relevant examination modules.