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CMFAS Exams

Appendix B — MAS Product Highlights Sheet practice note

An excerpt of MAS Practice Note SFA PN-02 (issued 8 June 2018), referencing SFA 13-G13. Key points:

  • the note guides issuers and professional advisers in preparing a PHS under the SFA framework and is read with the relevant offers regulations;
  • the PHS is submitted to MAS at prospectus lodgement;
  • it is made available with the prospectus, including online if the prospectus is online;
  • the prescribed format, tabular structure, headings/subheadings and yellow Pantone 109C right-edge feature are minimum presentation requirements;
  • additional headings and material information should be added where needed so investors understand the product;
  • a PHS should plainly state product summary, suitability, key features, risks, fees/charges, definitions and contacts, and prominently disclose possible loss of all principal where applicable.