Notices
Notice FAA-N27 Reporting of Misconduct of Representatives by Financial Advisers [To be effected on 1 January 2027]
Requirements for financial advisers to report misconduct of representatives
Issued pursuant to:
This notice applies to all licensed financial advisers and exempt financial advisers.
It sets out the obligations of financial advisers for misconduct committed by their representatives and former representatives, including:
- Reporting requirements.
- Provision of a copy of the misconduct report (and updates to the misconduct report) to the representative.
- Record keeping.
- Conduct of internal investigations.
- Taking of corrective actions.
Amendment Notes
- 30 December 2025
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Notice FAA-N27 (238.4 KB)
issued.
Related to this Notice
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CircularsPublished Date: 24 August 2026
Circular on (i) FAQs on the Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act; and (ii) Discontinuation of the Existing Misconduct Reporting System with effect from 1 January 2027
This circular informs licensed financial advisers, exempt financial advisers, holders of Capital Markets Services licence, exempt Capital Markets Services entities, registered insurance brokers, exempt insurance brokers and licensed direct insurers of: (i) the issuance of FAQs on the misconduct reporting requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act (effective 1 January 2027); and (ii) the discontinuation of the existing misconduct reporting system with effect from 1 January 2027.
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FAQsPublished Date: 24 August 2026
FAQs on the Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act (Effective 1 January 2027)
Provides guidance on misconduct reporting requirements of financial institutions.
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CircularsPublished Date: 30 December 2025
Issuance of Response to Consultation Paper on Revised Notices on Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act
This circular informs licensed financial advisers, exempt financial advisers, holders of capital markets services licence, exempt capital markets services entities, registered insurance brokers, exempt insurance brokers and licensed direct insurers of the issuance of the response to the Consultation Paper on Revised Notices on Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act, and the corresponding Revised Notices.
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NoticesLast Revised Date: 24 January 2025
Notice FAA-N14 Reporting of Misconduct of Representatives by Financial Advisers
Requirements for financial advisers to lodge a report to the Monetary Authority of Singapore (MAS), upon discovery of misconduct committed by their representatives.
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ConsultationsPublished Date: 19 April 2022
Consultation on Revised Notices on Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act
This consultation seeks views on the revised notices on misconduct reporting requirements.
- Consultation number:
- P002-2022
- Start date:
- 19 April 2022
- Closing date:
- 20 May 2022
- MAS response date:
- 30 December 2025
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ConsultationsLast Revised Date: 14 May 2021
Consultation Paper on Revisions to Misconduct Reporting Requirements and Proposals to Mandate Reference Checks for Representatives
Proposed revisions to requirements for the submission of misconduct reports and proposals to mandate FIs to conduct and respond to reference checks on representatives.
- Consultation number:
- P012 - 2018
- Start date:
- 06 July 2018
- Closing date:
- 06 August 2018
- MAS response date:
- 14 May 2021