This Compliance Toolkit is to guide and facilitate financial advisers’ compliance with the various MAS approval and reporting requirements and timelines.
Last Revised Date: 07 January 2019
Financial Advisers Regulations
Sets out the licensing, financial and business conduct requirements for financial advisers.
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.
- 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.