Singapore legislation

Regulation 3

Application of section 6 of Act

Subregulation 1

For the purposes of section 6 of the Act, in determining whether a person is engaging in any activity or conduct that is intended to or likely to induce the public in Singapore or any section thereof to use any financial advisory service provided by the person, regard shall be had to the following considerations:

(a)

whether the person uses any active communication device such as electronic-mail for the purpose of advertising or otherwise transmitting information about the financial advisory service to any person in Singapore;

(b)

where the person issues an advertisement about the financial advisory service —

(i)

whether the advertisement contains a prominent disclaimer containing a statement referred to in paragraph (2);

(ii)

whether the advertisement contains any information specifically relevant to persons in Singapore;

(iii)

whether the advertisement is referred to in, or is directly accessible from, any source which is calculated to draw the attention of persons in Singapore to the advertisement.

Subregulation 2

For the purposes of paragraph (1)(b)(i), the disclaimer shall contain a statement to the effect that the advertisement to which it relates —

(a)

is directed at persons outside Singapore; or

(b)

may be acted upon only by persons outside Singapore.

Read in full context — Financial Advisers Regulations →