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MAS raps HSBC for breaching Financial Advisers Act
Published Fri, Nov 28, 2014 · 09:50 PM
Singapore
THE Singapore branch of the Hongkong and Shanghai Banking Corporation (HSBC) has been reprimanded by the Monetary Authority of Singapore (MAS) for breaching Section 23B(3) of the Financial Advisers Act (FAA).
Under the section, a principal cannot allow any individual to provide any type of financial advisory service on its behalf, unless the individual is an appointed representative o…
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