GS Wealth were given a licence by the MAS to advise clients with total net personal assets exceeding S$2m (or foreign equivalent), or with income in the preceding 12 month of at least S$300,000, or a corporation with total assets worth at least S$10m.
However, the MAS said GS Wealth breached the conditions of its licence by providing advice to individuals who did not meet the criteria and has therefore been reprimanded.
