Singapore is relaxing rules for robo advisors

This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. The Monetary Authority of Singapore (MAS) has introduced a plethora of new rules and initiatives designed to boost the state's fintech industry recently, with its latest move aimed at making life easier for firms providing digital investment advice. MAS released a consultation paper this week outlining how it plans to clarify and update regulation for this segment, which included proposals for making it easier for firms to offer digital advice to retail investors, licensing exemptions for firms offering certain digital services related to investment, and reducing the volume of information about clients firms are required to gather before they can offer advice. MAS' aims are likely two-fold.