The Monetary Authority of Singapore (MAS) today announced initiatives to promote responsible online financial content sharing and advertising. MAS has published new Guidelines on Standards of Conduct for Digital Advertising Activities (“Guidelines”) to establish expectations for financial institutions on responsible and professional digital advertising practices. MAS has also issued a guide for online content creators .
2. Digital platforms, including social media, have increasingly become sources of financial information for consumers. With their broad reach, these platforms are able to reach the retail public to facilitate financial education and enhance understanding of financial concepts. However, such platforms can also amplify misleading or inappropriate content that can lead to consumer harm. Content creators who are unfamiliar with legal requirements may be inadvertently conducting regulated activity and infringing regulatory requirements.
Guidelines on Standards of Conduct for Digital Advertising Activities
3. Following a public consultation, the Guidelines establish safeguards that financial institutions are expected to adopt to manage risks associated with digital advertising. They apply to all financial institutions and their appointed third parties, including online content creators. Key safeguards include managing the challenges and limitations of digital media, ensuring clear disclosures, as well as setting appropriate policies and procedures to monitor digital advertising activities. The Guidelines are effective from 25 March 2026.
MAS & ASAS Guide on sharing financial information online
4. To guide content creators on responsible financial content creation, MAS has collaborated with the Advertising Standards Authority of Singapore (ASAS) to develop a guide on "7 must-knows when sharing financial information online". It covers key considerations when creating content - such as when a licence from MAS may be required, steps to take before promoting an entity’s products or services, and the disclosure of compensation received.
Advisory Letters
5. MAS will also issue advisory letters to five content creators who may have provided financial advice without a licence. They have been advised to adjust their content and practices to be in line with MAS’ regulatory requirements. Persons who continue to provide financial advice without a licence will face enforcement action.
6. "In today’s digital age, where there is increasing reliance on digital platforms that transmit information rapidly, financial institutions and content creators must ensure that the sharing of financial information and advertising of products and services are performed responsibly. They must adopt the appropriate safeguards to adhere to regulatory requirements and uphold consumer interests," said Lim Tuang Lee, Assistant Managing Director (Capital Markets) at MAS.
