On 15 May 2026, the Monetary Authority of Singapore (MAS) published its response (Response) to feedback received on its 1 July 2025 consultation paper (Consultation Paper) on proposed enhancements to Product Highlights Sheet (PHS) requirements and a review of a framework for complex products (Complex Products Framework).
In the Consultation Paper, MAS proposed certain enhancements to the PHS and reviewed the Complex Products Framework.
MAS’ Response is organised three parts: (a) Part I addresses enhancements to the PHS, including design and content updates to the templates and alignment of PHS-related legislation; (b) Part II sets out new PHS requirements for ILPs and the classification of ILPs as complex products; and (c) Part III reviews the Complex Products Framework, including enhanced disclosures with simplified nomenclature and streamlined distribution safeguards.
This update discusses MAS’ responses to, and decisions on, the key proposals in the Consultation Paper as set out in the Response.
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.