MAS tightens financial roadshow rules, representatives must get consent before sales pitches
When conducted inappropriately, public prospecting activities may lead to concerns about conduct when people are subjected to "unsolicited or persistent solicitation", said the Monetary Authority of Singapore.
The Monetary Authority of Singapore (MAS) has implemented stricter guidelines for financial institutions to conduct public prospecting activities, such as roadshows in public spaces, to prevent unsolicited or persistent solicitation. These new rules require representatives to inform consumers at the beginning of the event that they will be promoting financial products or services and obtain consent before proceeding.
The authority will issue the updated guidelines in 2027, giving financial institutions a nine-month transition period to comply with the enhanced safeguards. These measures aim to ensure that consumers are treated fairly and professionally while allowing financial institutions to engage with them through appropriate channels.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
