Recent thematic inspections on private banks on the way they conduct their sales and advisory activities in Singapore conducted by the country’s securities watchdog have unveiled shortcomings relating to structured products.
Private banks should place their clients’ interests at the heart of their sales and advisory activities ‘to engender confidence and trust, which are critical to the long-term success’ of the country’s wealth management sector, according to the Monetary Authority of Singapore (MAS). In an information paper based on thematic inspections on the sales and advisory practices of ‘selected financial institutions’ operating in the private banking industry over 2018 a
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