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   Consulting Industry on CIS   We have also consulted the industry on the proposed amendments to the Code on CIS. The key changes include increasing the types of instruments that may be accepted as collateral in securities lending transactions by fund managers and introducing guidelines for CIS that invests in currencies and/or currency derivatives.