Check a financial adviser in Singapore
To check a financial adviser, confirm the firm is regulated by the Monetary Authority of Singapore (MAS), then confirm the person is an appointed representative of that firm, and that neither appears on the MAS Investor Alert List. Start with the firm below.
1. Is the firm on the MAS register?
Searches our copy of the MAS Financial Institutions Directory (645 firms that may give financial advice), as published on . For the live record, use the MAS Financial Institutions Directory.
2. Check the person on the MAS Register of Representatives
Ask for their representative number (it looks like ABC123456) and search it, or their name. The register shows which firm they represent and which products they may advise on. If they are not listed, do not deal with them.
Open the Register of Representatives ↗3. Check the MAS Investor Alert List
The list names unregulated people and websites that may have been wrongly presented as MAS-regulated. Scammers often copy the names of real firms, so check the website address and phone number too.
Open the Investor Alert List ↗4. Check MAS enforcement actions
MAS publishes prohibition orders, penalties and other actions against firms and individuals. Search the firm and the person by name.
Open MAS enforcement actions ↗5. Know where to complain
If something goes wrong, complain to the firm first. If it isn't resolved, the Financial Industry Disputes Resolution Centre (FIDReC) handles disputes with most firms that serve retail customers.
Visit FIDReC ↗Warning signs of an investment scam
- You are contacted out of the blue by message, social media or a dating app.
- You are promised high returns that are described as "guaranteed" or safe.
- You are pressed to decide quickly or to keep the offer secret.
- You are asked to pay into a personal bank account or in cryptocurrency.
- The person won't give a representative number or a firm you can verify.
If you think you've been approached by a scammer, call the ScamShield Helpline on 1799 or report it to the police. For more on how licensing works, read how MAS regulates financial advisers.