News Regulations29 Jul 2024

Singapore:MAS issues further guidance to insurers and other Fis on customers' sources of wealth

| 29 Jul 2024

The Monetary Authority of Singapore (MAS) has issued a circular providing further guidance to financial institutions (FIs) in the wealth management sector on the establishment of the sources of wealth (SOW) of their customers, including the risk principles that FIs should consider in the designing of their policies and procedures to establish SOW of their customers in a risk-proportionate and reasonable manner.

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