The Monetary Authority of Singapore (MAS) issued the Notice on Business Conduct Requirements for Corporate Finance Advisers ("SFA 04-N21") on 23 February 2023. This comes around 14 months after the MAS issued the Consultation Paper P020-2021 which proposed to introduce regulatory requirements on the conduct of due diligence by corporate finance advisers (CFAs), strengthen public confidence and promote informed decision making by investors through quality disclosures. The new business conduct requirements will apply to advice given by:
Under any engagement to advise on corporate finance that is entered into on or after 1 October 2023.
SFA 04-N21 introduces the following requirements in addition to existing business conduct requirements for CFAs:
We summarize these requirements below.
Click here to access the full alert.
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