MAS: Annual report 2006 / 2007
CONTENTS
HOME
 
TEAMWORK - Our Partners
SINGAPORE 2006 INTERNATIONAL MONETARY FUND AND WORLD BANK GROUP ANNUAL MEETINGS
WORKING WITH INDUSTRY
FINANCIAL COOPERATION
WORKING WITH INDUSTRY 46
Dialogues with Professional Associations 46
Singapore Investment Banking Association Equity  
  Derivatives & Structured Products Taskforce 47
Industry Work Group On Securities And  
  Futures Act / Financial Advisers Act Amendments 47
Representative Notification Framework 47
Survey On Compliance Costs 47
Box 11 - MoneySENSE - Taking On A Much Higher Profile 48
Box 12 - Sixth International Advisory Panel Meeting 49
Box 13 - MEPS+: Improving The Efficiency Of Payment  
  Systems And Its Impact On Our Customers 50
Building A World Class Talent Pool for Singapore’s Financial Sector 50
Building A Quality Workforce 51
Attracting Financial Talent 51
Financial Research 51
Box 14 - Overseas Outreach Efforts 52
 
Representative Notification Framework
In response to industry feedback, MAS plans to introduce a notification framework and a public register for all representatives in the banking, insurance and capital markets sectors conducting activities under the SFA or FAA. The proposed framework will help achieve the objective of maintaining a consistent, efficient and streamlined process for individuals carrying out regulated activities. It will also provide consumers with information on representatives and reduce the risk of the public dealing with unlicensed individuals. The use of Information Technology for the notification system, which will include a misconduct reporting system, is expected to shorten the processing time for notification by a representative.