Monetary Authority of Singapore publishes digital advertising conduct guidelines and issues advisory letters to five financial content creators

The Monetary Authority of Singapore (MAS) announced initiatives to promote responsible online financial content sharing and advertising, including new conduct guidelines for digital advertising by financial institutions and their appointed third parties, a joint guide for online content creators, and advisory letters to five creators who may have provided financial advice without a licence. Following a public consultation, the Guidelines on Standards of Conduct for Digital Advertising Activities set expectations for responsible and professional digital advertising across all financial institutions and their appointed third parties, including online content creators. The safeguards focus on managing the challenges and limitations of digital media, ensuring clear disclosures, and implementing policies and procedures to monitor digital advertising activities. MAS also collaborated with the Advertising Standards Authority of Singapore (ASAS) on a guide titled "7 must-knows when sharing financial information online", covering when an MAS licence may be required, steps to take before promoting an entity’s products or services, and disclosure of compensation received. The Guidelines take effect on 25 March 2026. MAS will advise the five content creators to adjust their content and practices to align with regulatory requirements and warned that continued provision of financial advice without a licence may lead to enforcement action.