Singapore legislation

Clause 3

Amendment of section 19

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

(a)

by deleting the word “given” in paragraph (b) and substituting the word “issued”;

(b)

by deleting paragraph (c) and substituting the following paragraph:“(c)it appears to the Authority that the licensed financial adviser has failed to satisfy any of its obligations under or arising from —

(i)

this Act; or

(ii)

any written direction issued by the Authority under this Act;”; and

(c)

by inserting, immediately after paragraph (g), the following paragraph:“(ga)the Authority has reason to believe that the licensed financial adviser has not acted in the best interests of its clients;”.

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