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AN ONLINE register listing more than 30,000 financial advisory representatives will be on stream next month, allowing consumers to check on those selling products from insurance to units trusts.
Only representatives on the register can conduct regulated activities, said the Monetary Authority of Singapore (MAS) yesterday.
Representatives include bank relationship managers, remisiers, insurance agents and financial advisers.
The Register of Representatives, as it is called, will include the person's regulated activities, any disciplinary actions that have been lodged, and his employment history for the previous three years.
The new system will assign representatives with unique numbers that consumers can use to make their own checks.
'This will provide consumers with more information on their representatives, and enhance market discipline in the financial industry. Consumers should not deal with any person without a representative number,' said the MAS.
Online list of financial reps