facebookWrt to the Pareto SG case, if a local financial educator works with an offshore brokerage, can MAS charged the brokerage owners even though the company is not regulated and register in SG but the owners are SG? - Seedly

Anonymous

20 Feb 2020

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Retirement

Wrt to the Pareto SG case, if a local financial educator works with an offshore brokerage, can MAS charged the brokerage owners even though the company is not regulated and register in SG but the owners are SG?

https://www.channelnewsasia.com/news/singapore/...

What happens to the owners/directors of the offshore brokerage if a scam is uncovered by MAS and what protection does local investors have against this situation?

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Hmmm... sounds familiar.
they can promise you heaven and stars before you sign up for the course, but they will never put it in writing. so it is down to your words against theirs. somemore some of them are millionaires with legal team supporting.
but at the end of the day, the local "financial educator" will just say they are education company, not a fund manager. same as those insurance agents will never admit responsibility. so, buyers beware. ​​​

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