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
 
.
.
Publishing Unlicenced Operators . Box 6 – Integrated Dispute Resolution Scheme
.
.
Enhancing Management of Insurance Agents . Helping Consumers Better Understand “Critical Year”
.
.
Consulting Industry on CIS . Box 7 – MoneySENSE – Singapore’s Financial Education Programme
.
.
Health Insurance and Changing Demographics . Box 9 – Coping with E-Banking Risks
 
Enhancing Management of Insurance Agents
 
A Working Group comprising MAS and the Agents Registration Board (ARB) of the General Insurance Association of Singapore (GIA) was formed to enhance the management and supervision process for general insurance agents. The Working Group’s recommendations included:
 
Having more robust principal-for-agent accountability rules.
Enhancing the role of ARB as an information repository for the industry on agency
matters.
Establishing a centralised IT database on agency information to facilitate the tracking
of all agents.
 
A public consultation will be conducted on these recommendations to gather relevant feedback before implementation.