MAS
Singapore insurers can now sell advice-free life policies online
Life insurers in Singapore can now offer life policies online that can be sold without financial advice, according to new guidelines released by the Monetary Authority of Singapore (MAS).
Singapore regulator calls for end to ‘plague of misconduct’
The financial industry continues to be “plagued by egregious misconduct” and requires signficant reform, the Monetary Authority of Singapore’s managing director has said.
Ex-Goldman Sachs banker banned in 1MDB scandal
Former Goldman Sachs director Tim Leissner has been banned from working in Singapore’s financial services industry for 10 years for his involvement with stricken Malaysian sovereign wealth fund 1MDB, with further prohibition orders expected.
Singapore life industry must tackle ‘poor advice practices’
Life companies in Singapore must do more to improve the business culture within their organisation following a number of mis-selling cases involving poor or inappropriate financial advice, a senior official from the Monetary Authority of Singapore (MAS) has said.
Singapore’s already delayed commission cap still not in place
Singapore’s 55% cap on commission payments “has still not been practically implemented” despite being due to come into force in January 2017, an industry source told International Adviser.