As the regulator of the financial services sector, MAS supervises financial institutions for compliance with MAS’ laws and regulatory instruments .

You should only file a report with MAS if you suspect a financial institution or representative has committed a regulatory breach or misconduct. MAS does not resolve individual disputes you may have with a financial institution. You can refer to the following table for more information:

• Investigate the report of misconduct and/or regulatory breach.
• Take regulatory action against the financial institution and any person found to have breached MAS’ rules and regulations.
• Use any relevant information in the review of MAS’ existing policies. 

MAS will however not be able to:

• Mediate or adjudicate the dispute between you and your financial institution.
• Direct a financial institution to compensate you or agree to your requests.
• Disclose the outcome of any investigations or action taken against any financial institution or person.

You should contact the financial institution directly to resolve your dispute. Financial institutions regulated by MAS have processes to handle consumer disputes promptly and effectively. 

Refer to the Financial Institutions Directory to find the contact details of financial institutions regulated by MAS.

MAS does not resolve individual disputes you may have with a financial institution. This includes matters relating to service issues (for example, service standards and quality of service provided), contractual agreements, and business decisions of financial institutions such as pricing policies.

If you are not satisfied with a financial institution’s response, you may approach the Financial Industry Disputes Resolution Centre Ltd (FIDReC) * within 6 months of receiving the final reply from the financial institution.

FIDReC is an independent and impartial institution that provides alternative dispute resolution between consumers and financial institutions.

Find out more about the types of claims that FIDReC handles and FIDReC's dispute resolution process . You may also file a complaint with FIDReC through the Online Dispute Resolution Form .

*For certain disputes involving your Integrated Shield Plans, you may approach CCRP for assistance

For Integrated Shield Plan (IP) claim disputes with insurers that are of a clinical nature, you may wish to consider filing your case under the Clinical Claims Resolution Process (CCRP). 

You have to file your case within 6 months of your insurer's final reply to the medical practitioner, medical institution or policyholder. 

The CCRP is a voluntary claims resolution process that provides insurers, doctors, medical institutions and policyholders an avenue for recourse, should they have issues pertaining to clinical matters involving IP claims. Parties must agree to participate and abide by the decision of the CCRP panel. 

Find out more from CCRP’s website .

You can consider the following options:

• Approach other alternative dispute resolution service providers such as the Singapore Mediation Centre (SMC) .
• Seek legal advice from a lawyer or the Legal Aid Bureau if you qualify for legal aid.

Taking legal action should be your last resort. If you wish to engage a lawyer, you may refer to the list of lawyers regulated by the Legal Services Regulatory Authority .

MAS will not be able to disclose our dealings with financial institutions and individuals and the outcome of investigations as these are confidential. 

If you have a dispute with a financial institution, you should contact the financial institution directly to resolve your dispute.

If you are not satisfied with the financial institution’s response, you may approach the Financial Industry Disputes Resolution Centre Ltd (FIDReC) within 6 months of receiving the final reply from the financial institution.

MAS does not have the authority to direct a financial institution to agree to requests from consumers.

• You can refer to the Financial Institutions Directory which lists the financial institutions regulated by MAS and the regulated activities they are authorised to provide.
  
  
• To check if a person you are dealing with is an appointed representative, you can do a search through the Register of Representatives. The Register of Representatives is a public record of individuals who conduct regulated activities under the Securities and Futures Act and provide financial advisory services under the Financial Advisers Act.

MAS does not have the authority to take action against entities or individuals who are not licensed or authorised by MAS to provide financial services in Singapore.

However, regardless of whether an entity is regulated by MAS, it is an offence to engage in fraudulent or deceptive business practices in Singapore. If you have reasons to suspect that an unlicensed entity may have committed a criminal wrongdoing or fraud, you may make an online police report  or email SPF_Police_Information@spf.gov.sg.

MAS strongly encourages consumers seeking financial services to deal only with financial institutions regulated by MAS. MAS aims to safeguard consumer interests by ensuring that only professional persons are allowed to provide financial services. If consumers deal with unlicensed entities that are not regulated by MAS, they forgo the protection afforded under laws administered by MAS.