This set of regulations applies to:

  • Licensed financial advisers and their representatives.
  • Exempt financial advisers and their representatives.

It sets out requirements relating to:

  • Licensing and key appointments.
  • Representative notification framework.
  • Financial requirements.
  • Conduct of business.
  • Accounts and audit.
  • Exemptions.
  • Types of non-financial advisory services allowed.
  • Handling of customers' moneys and assets.

The various Schedules to the regulations further set out the following:

  • Second Schedule – table of fees payable to MAS.
  • Third Schedule – form for acceptance of composition of fine.
  • Fourth Schedule – requirements of direct purchase insurance product.
  • Fifth Schedule –  type of securities considered as a listed excluded investment product.
  • Sixth Schedule – examples of product advertisements that are false or misleading, not fair or unbalanced or information not presented in a clear manner.