No compulsory financial advice needed for most retail investors under proposed MAS changes
With a set of tweaks, the regulator hopes to balance between giving autonomy and protecting those putting money into investment products
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[SINGAPORE] Retail investors may soon be able to invest in products that are deemed complex without seeking the now-mandatory financial advice, even where they may not have the relevant qualifications, experience or knowledge in investing.
But safeguards would still be in place for those who need the protection.
Under the proposals, information on the products will be put more clearly, and guidance will be offered when transacting in complex products. Most investors would need to take a product knowledge assessment (PKA) to test their understanding of such products.
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