MAS to enhance safeguards for public prospecting activities
The Monetary Authority of Singapore (MAS) today announced enhanced safeguards for public prospecting activities, following a public consultation. The measures, to be incorporated into updated guidelines in 2027, will require financial institutions to conduct such activities only within designated areas at commercial premises, appoint qualified individuals to oversee representatives' conduct, and ensure representatives obtain consumer consent after clearly stating their marketing intent. Street canvassing and door-to-door prospecting will remain prohibited, with a nine-month transition period for implementation.
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