On 3 May 2025, the Monetary Authority of Singapore (MAS) issued a consultation paper proposing to remove the current exclusions under the Financial Advisers Regulations and the Securities and Futures (Licensing and Conduct of Business) Regulations (SF(LCB)R) that exempt certain financial institutions from complying with advertising regulations.
This proposal is part of MAS’s broader initiative to enhance market conduct standards, following its 2023 Consultation Paper on Enhancing Safeguards for Proper Conduct of Digital Prospecting and Marketing Activities.