Page 32 - 期货和衍生品行业监管动态（2023年8月刊）

期货和衍生品行业监管动态

b.FIs should monitor the conduct of their representatives at roadshows through site

visits and mystery shopping.

c.FIs should conduct call-backs and surveys within the free-look period to check

if clients understood the products that they purchased at roadshows.

MAS has recently issued a public consultation to strengthen these safeguards by

making them mandatory. MAS has also proposed additional new measures such as

requiring FIs to –

a.offer consumers additional time of at least 3 to 5 days to consider their decisions;

b.limit the use of gifts to influence consumers’ decision-making; and

c.conduct roadshows and marketing events only in commercial premises, instead

of public spaces such as streets and pedestrian areas.

A consumer who feels that he has been sold a product through inappropriate means
by a representative of an FI should immediately lodge a complaint with the FI. The FI

is required by regulation to thoroughly investigate the matter. Where the representative

has been found to have mis-sold a product, the FI will offer redress. Should the

consumer remain dissatisfied with the FI’s response, he can approach the Financial

Industry Disputes Resolution Centre (FIDReC) for assistance. FIDReC’s mediation and

adjudication services provide consumers with an accessible and affordable avenue to

resolve disputes with FIs.

https://www.mas.gov.sg/news/parliamentary-replies/2023/oral-reply-to-parliamentary-

question-on-impact-of-undesirable-marketing-tactics

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