Singapore Fair proposals accused of lacking teeth

Proposals unveiled this week on the sale of financial advice in Singapore are less rigorous than expected, but will still force insurers to review their approach to bundling products. Standalone financial advisory (FA) firms and banks will be less affected, as expected, but need to take certain recommendations into consideration. For example, it’s proposed that fund managers disclose trailer fees paid to FA firms for collective investment schemes. That said, this was widely expect…