Draft Guidelines on Switching of Designated Investment Products
Proposed guidance on safeguards to guard against representatives advising clients to switch from one designated investment product (i.e. a collective investment scheme, a life policy or any other investment product prescribed by MAS) to another, that is detrimental to the client.
Information on the good practices of financial advisers in the areas of advisory and sales process, recruitment, training and competency of representatives, complaints handling and compliance function.
Guidelines on safeguards to guard against representatives advising clients to switch from one designated investment product to another in a manner detrimental to the client.