The guidelines were first introduced in 2009 under the Financial Advisers Act which covered the selection, marketing and distribution of investment products. The guideline also covered the provision of advice and post-sales services for these products.
The Monetary Authority of Singapore (MAS) has expanded its set of guidelines on fair dealing to now include all financial institutions (FIs) and all products and services they offer to their customers.
FIs will be expected to incorporate key principles of fair dealing at various stages of a product’s life cycle, or services rendered.
