Financial industry Crucial that trainers are well qualified

The Insurance and Financial Practitioners Association of Singapore (IFPAS) welcomes the clear stance taken by the Monetary Authority of Singapore (MAS) regarding the licensing and regulation of financial influencers who provide financial advice.

This is a positive step towards protecting consumers and ensuring that only licensed and competent individuals are permitted to offer financial advice, as outlined in MAS' response in Parliament (Financial influencers must be licensed and regulated if they provide advice: Alvin Tan, Nov 13).

We agree with MAS that financial advice must be presented in a balanced and transparent manner by qualified professionals to safeguard public interest and maintain trust in the financial advisory industry.

The proactive issuance of guidelines and enforcement actions further reinforces the importance of ethical and professional conduct.