Singapore requires financial influencers to be licensed, aiming to regulate their financial advice.

The Monetary Authority of Singapore (MAS) requires financial influencers, or "finfluencers," who give financial advice to be licensed and regulated. MAS reports receiving fewer than five complaints annually against finfluencers, mostly for remarks unrelated to financial advice. Financial institutions must ensure finfluencers present information clearly and without bias. MAS and the Commercial Affairs Department will enforce against unlicensed financial advice providers, taking action against six individuals over three years, none of whom were finfluencers.

November 13, 2024
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