Qualified trading reps can provide investment advice

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.