Press Statement on MAS Reponses on the Enhancements to Product Highlights Sheets and Streamlined Framework for Complex Products

Date: May 15, 2026

The Securities Investors Association (Singapore) (SIAS) welcomes the Monetary Authority of Singapore’s (MAS) response to feedback on its proposed enhancements to Product Highlights Sheets (PHS) and the streamlined framework for complex products.

This move represents a progressive and forward-looking refinement of the complex products framework. It reflects a pragmatic response to the evolving needs of retail investors, taking into account increased digitalisation of financial services, improved investment literacy and knowledge, wider availability and accessibility of product information, and growing interest in self-directed investing.

SIAS supports MAS’ continued efforts to strengthen disclosure standards and improve investor understanding of investment products. The enhanced PHS requirements, including clearer presentation of key features and risks, improved visual cues to identify complex products, and simplified formats, will help retail investors make more informed and timely decisions.

In particular, SIAS recognises the importance of more prominent risk disclosures and pre‑transaction alerts for complex products, which serve as timely reminders for investors to carefully assess the suitability of such investments for their financial circumstances.

SIAS encourages financial institutions to strengthen the safeguards and controls they have put in place to protect customers, particularly in situations where a product has been assessed to be unsuitable for the customer.

Mr David Gerald, President & CEO, SIAS said “These enhancements are a positive step towards improving transparency and enabling investors to better understand the risks and features of complex financial products. Clearer disclosures and more intuitive product classifications will contribute to more informed investment decisions. However, Investors have to do their part by ensuring full understanding of the risks and benefits of the products by reading the warning alerts and continuing to educate themselves so as to make wise investment decisions.”

SIAS remains committed to working closely with regulators, financial institutions, and industry partners to strengthen investor education and uplift their knowledge. This includes raising awareness on the suitability of complex products and equipping investors with the knowledge and tools to assess whether such products align with their risk tolerance, financial and investment goals, and level of investment experience.

SIAS will continue to promote investor education and outreach programmes to help investors navigate increasingly sophisticated investment offerings with greater confidence and prudence.

Management Committee
SIAS