MAS suggests two-stage test to define “financial advisory service”

6 June 2018 | 3 minutes read

The Monetary Authority of Singapore (MAS) has released a consultation paper that aims to both define ‘financial advisory service’ and offer prescriptive guidelines on simplifying advisory and sales forms. The paper includes a two-stage test to determine whether a provider of financial information is offering a financial advisory service. The first stage is to assess whether the activity performed amounts…

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