Financial Advisers Act 2001 · 2020 Revised Edition · Part 7 · Assistance to Foreign Regulatory Authorities
108. Assistance that may be rendered
Feedback & supportDespite the provisions of any prescribed written law or any requirement imposed thereunder or any rule of law, the Authority or any person authorised by the Authority may, in relation to a request by a regulatory authority of a foreign country for assistance —
prescribed written law
“prescribed written law” means this Act, or any of the following written laws and any subsidiary legislation made thereunder:(a)Banking Act 1970;(b)Finance Companies Act 1967;(c)Insurance Act 1966;(d)Monetary Authority of Singapore Act 1970;(e)Payment Services Act 2019;(f)Securities and Futures Act 2001; or(g)such other written law as the Authority may prescribe;
transmit to the regulatory authority any material in the possession of the Authority that is requested by the regulatory authority or a copy thereof;
order any person to provide to the Authority any material that is requested by the regulatory authority or a copy thereof, and transmit the material or copy to the regulatory authority;
order any person to transmit directly to the regulatory authority any material that is requested by the regulatory authority or a copy thereof;
order any person to make an oral statement to the Authority on any information requested by the regulatory authority, record such statement, and transmit the recorded statement to the regulatory authority; or
request any Ministry, Government department or statutory authority to provide to the Authority any material that is requested by the regulatory authority or a copy thereof, and transmit the material or copy to the regulatory authority.
The assistance referred to in subsection (1)(c) may only be rendered if the material sought is to enable the regulatory authority to carry out investigation or enforcement.
material
“material” includes any information, book, document or other record in any form whatsoever, and any container or article relating thereto;
An order under subsection (1)(b), (c) or (d) has effect despite any obligation as to secrecy or other restriction on the disclosure of information imposed by any prescribed written law or any requirement imposed thereunder, any rule of law, any contract or any rule of professional conduct.
A person is not excused from making an oral statement pursuant to an order made under subsection (1)(d) on the ground that the statement might tend to incriminate him or her but, where the person claims before making the statement that the statement might tend to incriminate him or her, that statement is not admissible in evidence against him or her in criminal proceedings other than proceedings for an offence under section 109.
This section does not compel an advocate and solicitor —
advocate and solicitor
“advocate and solicitor” means an advocate and solicitor of the Supreme Court or a foreign lawyer as defined in section 2(1) of the Legal Profession Act 1966;
to provide or transmit any material or copy thereof that contains; or
to disclose,a privileged communication made by or to the advocate and solicitor in that capacity.
An advocate and solicitor who refuses to disclose, or to provide or transmit any material or copy thereof that contains, any privileged communication is nevertheless obliged to give the name and address (if he or she knows them) of the person to whom, or by or on behalf of whom, the privileged communication was made.
Any advocate and solicitor who contravenes subsection (6) shall be guilty of an offence.[80