Risk disclosure statement to be provided by CMS licensees, banks, merchant banks and finance companies to retail customers when opening trading accounts to trade in: (i) Futures contracts; (ii) Over-the-counter derivatives contracts of which the underlying is a currency or currency index; and (iii) Spot foreign exchange contracts for the purposes of leveraged foreign exchange trading.

Sets out requirements for licensing, representative notification and conduct of business, and criteria for exemptions from licensing.

Proposed safeguards to mitigate market conduct risks posed to consumers arising from financial institutions (FIs)' marketing and distribution activities at retailers and public places. Some proposals include having FIs to conduct regular mystery shopping and site visits and ensuring that any gift offered to customers does not influence the decisions of customers to purchase any financial products and services. MAS also proposed a list of notification requirements for the FIs.

Consultation number:

P012 - 2015

Start date:

23 July 2015

Closing date:

24 August 2015

Requirements and standards for life insurers providing financial advisory services.