27 Mar '12, 10am

Sweeping changes to the financial industry is coming…

Yesterday, the Managing Director of Monetary Authority of Singapore announced possible sweeping changes to the financial industry at the anniversary gala dinner hosted by the Life Insurance Association. It was also reported by the Straits Times Financial advisory sector faces shake-up Mr. Ravi Menon spoke of the need to put customers’ interested first. The following topics were addressed: Raising the Competence of FA Representatives MAS introduced new modules specifically for structured products effective 1 January 2012 to ensure FA representatives have sufficient knowledge of the wide and complex range of investment and insurance products currently available in the market. Some representatives questioned the need to take these exams if they are selling simple products. MAS takes the view that a good financial adviser should be able to explain the advantages and disadvanta...

Full article: http://thefinance.sg/2012/03/27/sweeping-changes-to-the-f...

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