Regulations
Financial Advisers Regulations
Sets out the licensing, financial and business conduct requirements for financial advisers.
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Financial Advisers Regulations
This set of regulations applies to:
- Licensed financial advisers and their representatives.
- Exempt financial advisers and their representatives.
It sets out requirements relating to:
- Licensing and key appointments.
- Representative notification framework.
- Financial requirements.
- Conduct of business.
- Accounts and audit.
- Exemptions.
- Types of non-financial advisory services allowed.
- Handling of customers' moneys and assets.
The various Schedules to the regulations further set out the following:
- Second Schedule – table of fees payable to MAS.
- Third Schedule – form for acceptance of composition of fine.
- Fourth Schedule – requirements of direct purchase insurance product.
- Fifth Schedule – type of securities considered as a listed excluded investment product.
- Sixth Schedule – examples of product advertisements that are false or misleading, not fair or unbalanced or information not presented in a clear manner.
Amendment Notes
Related to this Item
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ConsultationsPublished Date: 25 April 2023
Consultation Paper on Enhancing Safeguards for Proper Conduct of Digital Prospecting and Marketing Activities
This consultation paper seeks feedback on our proposals to enhance safeguards for proper conduct of digital prospecting and marketing activities, and address conduct risks and issues associated with these activities.
- Consultation number:
- P003-2023
- Start date:
- 25 April 2023
- Closing date:
- 30 June 2023
- Status:
- Open
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GuidanceLast Revised Date: 23 March 2023
Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions to MAS for Financial Advisers
This Compliance Toolkit is to guide and facilitate financial advisers’ compliance with the various MAS approval and reporting requirements and timelines.
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GuidelinesLast Revised Date: 01 August 2019
Guidelines on Applications for Approval of Arrangements under Regulation 32CB of the Financial Advisers Regulations (Rg 2) [FAA-G16]
Guidance on the assessment criteria and application procedures for approval of arrangements under Regulation 32CB and the MAS’ supervisory expectations in relation to approved arrangements under the ACMF Professional Mobility Framework.
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GuidelinesPublished Date: 23 December 2016
Guidelines on Standards of Conduct for Marketing and Distribution Activities by Financial Institutions [FSG-G02]
Guidelines for financial institutions on conducting marketing and distribution activities at retailers and public places targeting retailers.
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ConsultationsPublished Date: 29 June 2016
Proposed Legislative Amendments to Exempt Execution-Related Advice in respect of Listed Excluded Investment Products from the Financial Advisers Act
Proposed legislative amendments to the Financial Advisers Regulations to exempt execution-related advice on listed excluded investment products from the Financial Advisers Act and consequential amendments to the Notice on Recommendations on Investment Products.
- Consultation number:
- P006 - 2016
- Start date:
- 29 June 2016
- Closing date:
- 28 July 2016
- MAS response date:
- 30 December 2016
- Status:
- Responded
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ConsultationsPublished Date: 02 October 2014
Consultation Paper on (1) Draft Legislation and Proposed Legislative Amendments to Effect the Policy Proposals under the Financial Advisory Industry Review; and (2) Proposed Legislative Amendments to Authorise Inspections by Foreign Regulatory Authorities under the Financial Advisers Act
Proposed legislative amendments to raise the competency of FA representatives and quality of FA firms; lower distribution cost by enhancing market efficiency; and promote a culture of fair dealing.
- Consultation number:
- P022-2014
- Start date:
- 02 October 2014
- Closing date:
- 03 November 2014
- MAS response date:
- 11 May 2015
- Status:
- Responded
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ConsultationsPublished Date: 05 March 2013
Consultation Paper on Recommendations of the Financial Advisory Industry Review
Proposed recommendations aimed at raising the quality of financial advisers (FA) and competency of FA representatives, improving efficiency in the distribution of life insurance and investment products, and promoting a culture of fair dealing in Singapore.
- Consultation number:
- P004-2013
- Start date:
- 05 March 2013
- Closing date:
- 04 June 2013
- MAS response date:
- 30 September 2013
- Status:
- Responded
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ConsultationsPublished Date: 23 June 2009
Consultation Paper on Draft Regulations Pursuant to the SFA and the FAA
- Consultation number:
- P008 - 2009
- Start date:
- 23 June 2009
- Closing date:
- 21 July 2009
- MAS response date:
- 19 April 2010
- Status:
- Responded