Notices
 Last Revised Date: 19 February 2021

Notice 306 Market Conduct Standards for Life Insurers Providing Financial Advisory Services as defined under the Financial Advisers Act

Requirements and standards for life insurers providing financial advisory services.

Issued pursuant to:

Insurance Act (Cap. 142) section 64(2)

Applies to: Direct Insurer (Life) , Direct Insurer (Composite)
View Notice Notice 306 Market Conduct Standards for Life Insurers Providing Financial Advisory Services as defined under the Financial Advisers Act (80.8 KB)

This notice applies to all direct life insurers which provide financial advisory services as defined under the Financial Advisers Act.

It sets out requirements for:

  • Appointment of representatives;
  • Maximum tier structure; 
  • Training and competency of representatives; 
  • Loans and advances to representatives; 
  • Compliance unit; 
  • Disciplinary action; 
  • Attribution of income and expenses; 

Amendment Notes

19 Feb 2021
MAS 306 (Amendment) 2021 (94 KB) takes effect.
26 Nov 2010
MAS 306 (Amendment) 2010 (20.7 KB) takes effect.
30 Jun 2010
MAS 306 (Amendment) 2010 (5.61 KB) takes effect.