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Some PBs overcharge clients and are perfunctory in risk profiling: MAS

The Monetary Authority of Singapore (MAS) has found instances where PB clients were charged more than what was agreed in fee schedules and where RMs had alluded to risk profiling as a “paper exercise”. It has urged PBs to improve the design and effectiveness of control processes in the areas of investment suitability and pricing controls and disclosures. More generally,…

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