Page 50 - 期货和衍生品行业监管动态（2024年6月刊）

期货和衍生品行业监管动态

MAS Expands Application of Fair Dealing Guidelines to All Financial
Institutions and All Products and Services (2024/5/30)

The Monetary Authority of Singapore (MAS) today issued an updated set of

Guidelines on Fair Dealing. A key change is that the scope of the Guidelines has been

expanded to apply to all financial institutions (FIs), and all products and services they

offer to their customers.

The updated Guidelines aim to raise standards of fair dealing and improve the

experience of customers dealing with FIs. FIs will be expected to incorporate key

principles of fair dealing at various stages of a product’s life cycle, or services

rendered.

With the updated Guidelines, customers can expect:

a. Products suited to the needs of the target market segment;

b. Advice with suitable product recommendations, accurate representation of

information and extra consideration for those who are more vulnerable;

c. Clear explanations on a product and its terms and conditions; and

d. Independent and responsive handling of feedback.

First introduced in 2009 under the Financial Advisers Act, the Guidelines

covered the selection, marketing and distribution of investment products, as well as

the provision of advice and post-sales services for these products. FIs have mostly

adhered to the same principles in their dealings with customers beyond advisory

services and investment products. The expanded scope of the Guidelines formally

recognises this, while keeping unchanged the core objectives of fair dealing and focus

on customer outcomes.

Ms Ho Hern Shin, Deputy Managing Director (Financial Supervision), MAS,

said: “This update to the Fair Dealing Guidelines reflects MAS’ expectation for all

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