Exit

MAS Consultation Paper on Proposed Changes to the Complex Products Regime
(Respond by 30 November 2021)

View full consultation paper here

Question Title

* Question 1:

MAS seeks comments on the proposal to classify all authorised and recognised CIS as EIPs, except for a small group of more complex funds as described in paragraph 2.7 which are currently subject to additional disclosure requirements and enhanced distribution safeguards for SIPs.

Question Title

* Question 2:

MAS seeks comments on the proposal to classify debentures with the following features as SIPs:
(a) Where the interest payment is not solely based on a single fixed or floating rate; or..

Question Title

* Question 2:

MAS seeks comments on the proposal to classify debentures with the following features as SIPs:
(b) Where the debentures are convertible.

Question Title

* Question 3: MAS seeks comments on –

(a) Whether perpetual securities should be classified as EIPs or SIPs;

Question Title

* Question 3: MAS seeks comments on –

(b) Whether there is a need to enhance the marketing and disclosure requirements on perpetual securities to ensure that the key features and risks are adequately highlighted to investors. If so, what are your views on requiring intermediaries to provide a cautionary statement and what should be contained in such a statement; or

Question Title

* Question 3. MAS seeks comments on –

(c) any other suggestions on safeguards for the sale of perpetual securities.

Question Title

* Question 4. MAS seeks comments on

(a) whether to align the EIP/ SIP classification of preference shares with that of perpetual securities and subject the sale of these products to the same safeguards;

Question Title

* Question 4. MAS seeks comments on

(b) any other suggestions on safeguards for issuance of preference shares.

Question Title

* Question 5.

MAS seeks comments on the proposal to remove the CKA/CAR assessment for advised transactions. FAs may instead integrate the consideration of the customers’ knowledge or experience in SIPs in the suitability assessment when making a recommendation on SIPs.

Question Title

* CFA ID (Optional)

Question Title

* Please fill in your particulars below:

Name as per CFA records

Email Address

Contact Number

Question Title

* I wish to keep the following confidential (Optional):

Name

Contact Information

Question Title

* Question 1: MAS seeks comments on the proposal to classify all authorised and recognised CIS as EIPs, except for a small group of more complex funds as described in paragraph 2.7 which are currently subject to additional disclosure requirements and enhanced distribution safeguards for SIPs.

Question Title

* Question 2: MAS seeks comments on the proposal to classify debentures with the following features as SIPs:(a) Where the interest payment is not solely based on a single fixed or floating rate; or..

Question Title

* Question 2: MAS seeks comments on the proposal to classify debentures with the following features as SIPs:(b) Where the debentures are convertible.

Question Title

* Question 3: MAS seeks comments on –(a) Whether perpetual securities should be classified as EIPs or SIPs;

Question Title

Question Title

* Question 3. MAS seeks comments on –(c) any other suggestions on safeguards for the sale of perpetual securities.

Question Title

* Question 4. MAS seeks comments on(a) whether to align the EIP/ SIP classification of preference shares with that of perpetual securities and subject the sale of these products to the same safeguards;

Question Title

* Question 4. MAS seeks comments on(b) any other suggestions on safeguards for issuance of preference shares.

Question Title

* Question 5.MAS seeks comments on the proposal to remove the CKA/CAR assessment for advised transactions. FAs may instead integrate the consideration of the customers’ knowledge or experience in SIPs in the suitability assessment when making a recommendation on SIPs.

Question Title

* CFA ID (Optional)

Question Title

* Please fill in your particulars below:

Question Title

* I wish to keep the following confidential (Optional):

* Question 1:

MAS seeks comments on the proposal to classify all authorised and recognised CIS as EIPs, except for a small group of more complex funds as described in paragraph 2.7 which are currently subject to additional disclosure requirements and enhanced distribution safeguards for SIPs.

* Question 2:

MAS seeks comments on the proposal to classify debentures with the following features as SIPs:
(a) Where the interest payment is not solely based on a single fixed or floating rate; or..

* Question 2:

MAS seeks comments on the proposal to classify debentures with the following features as SIPs:
(b) Where the debentures are convertible.

* Question 3: MAS seeks comments on –

(a) Whether perpetual securities should be classified as EIPs or SIPs;

* Question 3. MAS seeks comments on –

(c) any other suggestions on safeguards for the sale of perpetual securities.

* Question 4. MAS seeks comments on

(a) whether to align the EIP/ SIP classification of preference shares with that of perpetual securities and subject the sale of these products to the same safeguards;

* Question 4. MAS seeks comments on

(b) any other suggestions on safeguards for issuance of preference shares.

* Question 5.

MAS seeks comments on the proposal to remove the CKA/CAR assessment for advised transactions. FAs may instead integrate the consideration of the customers’ knowledge or experience in SIPs in the suitability assessment when making a recommendation on SIPs.