Marketing Concept - Legal Review



  • Marketing Concept - Legal Review

     

    Introduction

    We are a startup project before incorporation stage and face a legal issue which we need to clarify. Our business model is to incorporate in Singapore as an investment fund and get fully licenced and regulated by MAS.


    Here our business model presentation in Google Slides:

    https://docs.google.com/presentation/d/1RzTCZLgFWzEcAJybz4NKGzb1TdkfCMeLwIAXyKE6ms8/edit?usp=sharing


    Service Description

    The service we want to offer is an investment fund product. We plan to launch a new investment fund every month, and each fund runs for one year, than it will be shut down and profits will be paid out. Each fund will be licenced to be offered to the general public, so that every citizen or business in Singapore can invest into our fund.


    Problem Statement

    Our marketing strategy is to create a team of licenced Investment Advisers who will approach potential customers face to face. For example they would visit a small business owner in their shop and have a 5 min talk about our website and the services we offer, hand over a leaflet with business card and end the conservation.

    We have no intent at all to get an investment contract signed during that conservation. The talk will be just to make the potential customer aware that our service exists on our website and how we can be contacted in case the customer wants to join or needs more details.


    Status

    Some team members raised concerns that it may be illegal to promote a legal financial service to members of the public, even if the product is licenced by MAS to be sold to members of the public.


    Key Questions

    • Is our marketing approach in fact illegal in Singapore ? Based on which law (name/number) ?

    • What workarounds exist to solve that issue so we can legally approach possible customers using personal face to face contact ?


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