Representatives at financial roadshows will have to tell you upfront that they want to market financial products or services, and get your consent before continuing.
The Monetary Authority of Singapore (MAS) announced the enhanced safeguards on 12 October 2026, addressing concerns about unwanted or persistent approaches to consumers in public places.
The changes will take time to roll out. MAS will issue the updated guidelines in 2027, followed by a nine-month transition period for financial institutions to implement them.
A Sales Pitch Must Be Clear From The Start
In its response to consultation feedback, MAS said it continues to receive complaints that representatives are unclear about who they are and why they are approaching people, even though many already wear company lanyards.
Verbal consent will be acceptable, and financial institutions will not have to document it. They must, however, have checks to ensure representatives obtain consent, such as supervision or mystery shopping.
Registering for an event in advance may also count as consent, provided the registration process clearly states that financial products or services will be marketed there.
“Consumers should not feel pressured or caught off guard when approached about financial products and services,” said Lim Tuang Lee, MAS’s assistant managing director for capital markets.
Clearer Boundaries For Roadshows
Public prospecting, which includes approaching potential customers at roadshows, will be confined to designated areas at commercial premises.
Permitted venues include exhibition halls, corporate conference rooms and common spaces within commercial buildings where firms can rent space or obtain permission. Pedestrian walkways and residential spaces are excluded.
Prospecting activities will be restricted to within a five-metre radius of the marked event space.
Financial institutions will also have to appoint suitably qualified people to oversee representatives’ conduct. Street canvassing and door-to-door prospecting will remain prohibited.
Gifts Can Stay, With Safeguards
MAS is not proceeding with proposals to prohibit the mention of gift offers or restrict gifts. Existing guidelines already say gifts should not be promoted in ways that improperly influence purchase decisions.
Instead, firms will be expected to establish a framework, approved by senior management, governing how gifts are offered responsibly.
MAS also decided against banning sales during the first prospecting engagement or introducing a compulsory period to consider a purchase. It said existing free-look and cancellation periods give customers adequate opportunities to reconsider.
