Monday, January 21, 2013

Consumer consultancy and Financial Adviser Act

Someone challenged me whether my consumer consultancy infringe the Financial adviser's Act. To overcome this challenge and potential difficulty, I have decided to put in this disclaimer:

* Note: Consumers are advised that the scope of this consumer consultancy is not to be interpreted as financial advice within the scope of the Financial Adviser’s Act regulated by the Monetary Authority of Singapore. Tan Kin Lian & Associates has not applied for a license under the Act.

The full scope is shown here:

1 comment:

Micky Neo said...

The word Advise is restricted but
comments, recomend, consult, sharing, explaining are not.

The burden to investigate and show proof falls on the complainant. If he/she has sufficient evidence on fringement, he/she can proceed (with whatever), there's no need to challenge you.

However if he/she ask you nicely, you can entertain.

You've done your part in putting up the disclaimers.


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