Business · Singapore Bureau
MAS Tightens Rules on Financial Roadshows to Protect Consumers
Singapore's financial regulator has strengthened guidelines for public prospecting activities, requiring representatives to obtain explicit consent before making sales pitches. The move aims to curb aggressive solicitation tactics that may harm consumers.
LSN Singapore ·
The Monetary Authority of Singapore (MAS) has issued updated guidance on financial roadshows and public prospecting activities, mandating that representatives secure clear consent from participants before delivering sales presentations. The stricter framework addresses concerns that inappropriate conduct during such events exposes members of the public to unsolicited or persistent solicitation. Under the revised guidelines, financial institutions and their representatives must obtain explicit permission from attendees before proceeding with product pitches or sales discussions. The regulator emphasized that public prospecting activities, when conducted without proper safeguards, risk damaging consumer trust and breaching conduct standards within the financial services industry. MAS stated that the enhanced requirements will help ensure financial institutions maintain appropriate standards of professionalism and transparency when engaging with members of the public at roadshows and similar promotional events. The authority has not specified a timeline for full compliance but expects institutions to align their practices with the updated guidance promptly.