THE FINANCIAL SECTOR: KEY SUPERVISORY AND REGULATORY INITIATIVES       Content Page Supervision Regulation Risk-based Regulatory Regime Fine-Tuning Regulatory framework Ensuring Sound Market Conduct Innovative Systems for Efficient Payment and Settlement     ENSURING SOUND MARKET CONDUCT   . Developing Framework for Composition of Offences . Publishing Unlicenced Operators . Box 6 – Integrated Dispute Resolution Scheme . Improving Corporate Disclosure . Enhancing Management of Insurance Agents . Helping Consumers Better Understand “Critical Year” . Regulatory Frameworks for Business Trusts and Trust Companies . Consulting Industry on CIS . Box 7 – MoneySENSE – Singapore’s Financial Education Programme . Box 8 – Boosting Research . Health Insurance and Changing Demographics . Box 9 – Coping with E-Banking Risks   Box 6 INTEGRATED DISPUTE RESOLUTION SCHEME   MAS is facilitating the development of an integrated dispute resolution scheme for the financial sector. Currently, there are separate dispute resolution schemes for the banking and insurance sectors, but there is no similar mechanism for capital markets. An integrated scheme would benefit consumers by providing them with the convenience of a one-stop shop and ensure that consistent processes and procedures are applied across sectors. Financial institutions can also reap cost savings through economies of scale. MAS has set up an Integration Steering Committee to oversee the transition to an integrated scheme that can simultaneously address the gap in capital markets. The committee is chaired by Goh Joon Seng, the current chairman of both the Insurance Disputes Resolution Organisation and the banking industry’s Consumer Mediation Unit. It also includes representatives of key consumer groups and industry associations.