MAS proposes tighter FI marketing controls
Feedback sought on enhanced rules to cover sale of financial products at public places and via retailers
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Ven Sreenivasan
Singapore
THE Monetary Authority of Singapore (MAS) on Thursday launched a consultation paper outlining proposals to enhance safeguards and controls for the sale of financial products by financial institutions (FIs) at public places and via third-party retailers.
Under the enhanced rules, MAS will require all FIs to notify it of their marketing and distribution activities at retailers and public places. This is to allow MAS to monitor the extent of such activities and tailor its supervisory approach accordingly.
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