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OUR MISSION
OUR OBJECTIVES
 
Supervision
Inspections and
Supervisory Reviews
New Legislation
Enhancing Regulatory Frameworks
Market and Business Conduct
Risk Management
B THE FINANCIAL SECTOR: KEY SUPERVISORY
AND REGULATORY INITIATIVES
 
  Market and Business Conduct 51
 
Enhancing Market Discipline  
51
 
Survey on Establishment and Maintenance of
 
the Insurance Broking Premium Account  
51
 
 
Box 11 – MoneySENSE  
52
 
Enhancing Consumer Recourse  
54
 
Financial Industry Disputes Resolution Centre Launched  
54
 
Box 12 – Investigating Across Borders  
55
 
  MARKET AND BUSINESS CONDUCT

Financial Industry Disputes Resolution Centre Launched
 

The Financial Industry Disputes Resolution Centre (FIDReC) was officially launched by Heng Swee Keat, Managing Director of MAS, on 31 August 2005. FIDReC is a cost-effective and independent institution specialising in the resolution of disputes between financial institutions and consumers. It is accessible and affordable for consumers who may not have the financial means to go to court. FIDReC’s board of directors is chaired by retired Supreme Court judge Goh Joon Seng and is staffed by full-time employees familiar with the relevant industry practices of the financial sector.