On 24 August 2026, the Monetary Authority of Singapore (MAS) issued Circular No. FAS 11/2026 and a set of frequently asked questions (FAQs) on the misconduct reporting requirements under the Financial Advisers Act 2001 (FAA), Insurance Act 1966 (IA) and Securities and Futures Act 2001 (SFA) to supplement the information in the following revised Notices which will come into effect on 1 January 2027:
(a) FAA-N27 Notice on Reporting of Misconduct of Representatives by Financial Advisers;
(b) MAS 508 Notice on Reporting of Misconduct of Broking Staff by Insurance Brokers and of Representatives by Accident and Health Insurance Intermediaries; and
(c) SFA 04-N24 Notice on Reporting of Misconduct of Representatives by Holders of Capital Markets Services Licence and Exempt Persons.
The existing misconduct reporting system (MRS) will be discontinued and replaced with the new MRS with effect from 1 January 2027.
In this update, our Co-Head of Financial Services Regulatory Elaine Chan, and Partners Tian Sion Yoong and Chan Jia Hui, highlight the key points in the FAQs.
To view the update, please click here.
If you would like information and/or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:
Elaine CHAN
Co-Head – Financial Services Regulatory
d +65 6416 8010
e elaine.chan@wongpartnership.com
Click here to view Elaine’s CV.
TIAN Sion Yoong
Partner – Financial Services Regulatory
d +65 6416 2488
e sionyoong.tian@wongpartnership.com
Click here to view Sion Yoong’s CV.
CHAN Jia Hui
Partner – Financial Services Regulatory
d +65 6416 2794
e jiahui.chan@wongpartnership.com
Click here to view Jia Hui’s CV.