Qualified trading reps can provide investment advice
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
WE refer to the article by R Sivanithy, "Reinvent rules for remisiers" (BT, Nov 18).
He mentioned that trading representatives (TRs) of broking houses are prohibited from offering investment advice under the Securities and Futures Act (SFA). We would like to clarify that the provision of financial advice is regulated under the Financial Advisers Act (FAA).
TRs with necessary qualifications and who have passed relevant examinations can provide investment and financial advice, as long as they comply with relevant business conduct requirements under the FAA.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
