SINGAPORE - The Monetary Authority of Singapore (MAS) has announced the composition of the review panel for the Financial Advisory Industry Review (FAIR).
It will be chaired by MAS' Assistant Managing Director for Capital Markets, Mr Lee Chuan Teck, and comprise representatives from industry associations, consumer bodies, the investment community, academia, media, and other stakeholders
The panel will review and propose recommendations on the five key thrusts of FAIR, which was announced by MAS managing director Ravi Menon last week.
The review aims to: raise the competence of financial advisory (FA) representatives; raise the quality of FA firms; make FA a dedicated service; lower distribution costs; and promote a culture of fair dealing.
The panel members are:
Chairman: Mr Lee Chuan Teck, Assistant Managing Director, MAS
Members:
Mr Esmond Choo, President, Securities Association of Singapore
Ms Genevieve Cua, Wealth Editor, The Business Times
Mr David Gerald, President, Securities Investors Association (Singapore)
Mr Lester Gray, Chairman, Investment Management Association of Singapore
Mr Piyush Gupta, Chairman, The Association of Banks in Singapore
Ms Aurill Kam, Partner, Rajah & Tann LLP
Professor Francis Koh, Deputy Dean, Lee Kong Chian School of Business, SMU
Mr Kuo How Nam, President, Credit Counselling Singapore
Mr Augustine Lee, President, Association of Financial Advisers
Mr Ong Ye Kung, Deputy Secretary-General, National Trades Union Congress
Mr Seah Seng Choon, Executive Director, Consumers Association of Singapore
Mr Tan Hak Leh, President, Life Insurance Association Singapore
Mr Yee Ping Yi, Chief Executive Officer, Central Provident Fund Board
Consumer and industry practitioners are invited to submit feedback and respond to a questionaire for the review by May 1. General comments may be emailed to fairfeedback@mas.gov.sg. The FAIR questionaire can be found at www.mas.gov.sg/fair. A hardcopy response to the questionaire can also be mailed to 10 Shenton Way, MAS Building, Singapore 079117, marked for the attention of "Capital Markets Intermediaries Department - FAIR"
Source: Today Online
