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Singapore’s private banking industry tightens up on fees transparency

The Association of Banks in Singapore (ABS) has today announced enhancements to its private banking code of conduct in a bid to ensure greater fee transparency. Private banks are now required to provide clients with a fee schedule that discloses “fees, charges and other quantifiable benefits including commissions, rebates and retrocessions” for all investment products and services at the point of account-opening. Private banks…

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