This Compliance Toolkit is to guide and facilitate insurance brokers’ compliance with the various MAS approval and reporting requirements and timelines.
Notice 504 Reporting of Misconduct of Broking Staff by Insurance Brokers
Requirements and template for reporting the misconduct of broking staff.
This notice applies to all registered insurance brokers and exempt insurance brokers.
It sets out the responsibilities and reporting requirements of insurance brokers for misconduct committed by their broking staff, including:
- Relevant information to include in the report.
- Conduct of internal investigations and record keeping.
- Disciplinary action taken.
- Annual declaration through MASNet if there is no misconduct to report.