Title

Product Suitability, Due Diligence and Management Responsibility: The New Regime of Regulation 18B of the Financial Advisers Regulations

Publication Type

Journal Article

Publication Date

3-2012

Abstract

In response to the structured products crisis of 2008, many changes were made to the Singapore regulatory landscape over the past three years. More recently, in July 2011, the Financial Advisers Regulations (Cap 110, Rg 2, 2004 Rev Ed) was amended and an important new provision – reg 18B – was added. Regulation 18B requires a financial adviser and its senior management to conduct a comprehensive due diligence exercise before selling a new product. This comment considers reg 18B’s overall scheme, its interpretational difficulties, the demands of the diligence requirements, its interrelation with s 27 of the Financial Advisers Act (Cap 110, 2007 Rev Ed) and the extent to which the regulatory regime has been altered.

Discipline

Asian Studies | Banking and Finance Law | Commercial Law

Research Areas

Commercial Law

Publication

Singapore Academy of Law Journal

Volume

24

Issue

1

First Page

298

Last Page

313

ISSN

0218-2009

Publisher

Singapore Academy of Law

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