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Banks unfazed by stricter rules for defining accredited investors
They say the regulations won't have material impact on wealth management revenues or their private banking business
Add BT as a preferred sourcePublished Mon, Oct 3, 2016 · 09:50 PM
Singapore
BANKS are sanguine about their wealth business ahead of new rules defining who qualifies to be truly rich, saying the impact of these rules is not going to be significant.
In a bid to protect retail investors, the Monetary Authority of Singapore (MAS) is tightening the rules that define accredited investors (AIs).
