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MAS to embark on “mystery shopping” inspections of financial advisors

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The Monetary Authority of Singapore (MAS) plans to relaunch its “mystery shopping” initiative whereby it monitors financial advisors’ interactions with clients, according to Merlyn Ee, executive director at the regulator. Mystery shopping, a practice that MAS last used six years ago, and enforcement will be the regulator’s two supervisory focuses when it comes to financial advisors this year, Ee said…

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