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MAS seeks feedback on product disclosure, complex product rules

MAS states its proposals aim to strengthen disclosure effectiveness.

The Monetary Authority of Singapore (MAS) is seeking feedback on enhancing Product Highlights Sheets and simplifying complex product rules.

The Proposed Product Highlights Sheet (PHS) enhancements include requiring financial institutions to provide investors with a PHS for shares, bonds, and units in a Collective Investment Scheme.

Additionally, MAS proposes revised PHS templates to help users better understand key product information.

Complex products will also be indicated with a red label to alert investors of the need to seek advice as appropriate.

For complex products, the distributor must assess a retail investor’s educational, work, and investment experience.

MAS states its proposals aim to strengthen disclosure effectiveness so investors can make informed choices, whilst still providing appropriate support for consumers.
 

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