Singapore legislation

Clause 10

Amendment of section 19

Section 19(2) of the principal Act is amended —

(a)

by deleting sub-paragraph (iv) of paragraph (a) and substituting the following sub-paragraphs:“(iv)it appears to the Authority that the financial adviser is carrying on its business in a manner that is —

(A)

likely to be detrimental to its clients; or

(B)

contrary to the public interest;

(iva)any information or document that is furnished by the financial adviser to the Authority is false or misleading; or”; and

(b)

by deleting sub-paragraph (iv) of paragraph (b) and substituting the following sub-paragraphs:“(iv)it appears to the Authority that the representative is carrying on his functions in a manner that is —

(A)

likely to be detrimental to the clients of the financial adviser of which he is a representative; or

(B)

contrary to the public interest;

(iva)any information or document that is furnished by the representative to the Authority is false or misleading;”.

Read in full context — Financial Advisers (Amendment) Bill →