MAS proposes to remove some exemptions from advertisement regulations to better protect consumers

[SINGAPORE] The Monetary Authority of Singapore (MAS) is proposing to amend financial advertisement requirements in a bid to boost protection for consumers.

MAS currently requires financial institutions (FIs) to ensure that advertisements are fair and balanced, and not false and misleading. Product advertisements are to also be clear and legible.

But FIs are exempted from complying with these requirements if they are targeting certain persons – including accredited and institutional investors – or marketing certain activities – such as advising on spot foreign exchange contracts other than for the purposes of leveraged foreign exchange trading.