Last Revised Date: 17 September 2021

Notice FAA-N16 Recommendations on Investment Products

Requirements for financial advisers and their representatives with respect to recommendations made on investment products.

This notice applies to:

It sets out the standards to be maintained by financial advisers and representatives when making recommendations on investment products, including assessing a customer’s knowledge and experience in complex products. These requirements cover the following aspects:

  • Know your client.
  • Customer knowledge assessment.
  • Needs analysis.
  • Documentation and record keeping.

Amendment Notes

17 Sep 2021
MAS Notice FAA-N16 (Amendment) 2021 (726.2 KB) takes effect from 9 Oct 2021, except for amendments in respect of paragraph 3 which are effective from 17 Sep 2021.
4 Jan 2019
MAS Notice FAA-N16 (Amendment) 2019 takes effect.
01 Jan 2012
MAS Notice FAA-N16 (Amendment) 2011 takes effect.