Notices
Notice 508 Reporting of Misconduct of Broking Staff by Insurance Brokers and of Representatives by Accident and Health Insurance Intermediaries [To be effected on 1 January 2027]
Requirements for financial institutions to report misconduct of broking staff and representatives
Issued pursuant to:
This notice applies to:
- Registered insurance brokers and exempt insurance brokers.
- Licensed direct insurers, licensed financial advisers and exempt financial advisers which carry on a business in an accident and health insurance intermediary activity.
It sets out the obligations of these financial institutions for misconduct committed by their broking staff and representatives (including former broking staff and representatives) including:
- Reporting requirements.
- Provision of a copy of the misconduct report (and updates to the misconduct report) to the broking staff and representative.
- Record keeping.
- Conduct of internal investigations.
- Taking of corrective actions.
Amendment Notes
- 30 December 2025
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Notice MAS 508 (240.9 KB)
issued.
Related to this Notice
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CircularsPublished Date: 24 August 2026
Circular on (i) FAQs on the Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act; and (ii) Discontinuation of the Existing Misconduct Reporting System with effect from 1 January 2027
This circular informs licensed financial advisers, exempt financial advisers, holders of Capital Markets Services licence, exempt Capital Markets Services entities, registered insurance brokers, exempt insurance brokers and licensed direct insurers of: (i) the issuance of FAQs on the misconduct reporting requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act (effective 1 January 2027); and (ii) the discontinuation of the existing misconduct reporting system with effect from 1 January 2027.
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FAQsPublished Date: 24 August 2026
FAQs on the Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act (Effective 1 January 2027)
Provides guidance on misconduct reporting requirements of financial institutions.
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CircularsPublished Date: 30 December 2025
Issuance of Response to Consultation Paper on Revised Notices on Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act
This circular informs licensed financial advisers, exempt financial advisers, holders of capital markets services licence, exempt capital markets services entities, registered insurance brokers, exempt insurance brokers and licensed direct insurers of the issuance of the response to the Consultation Paper on Revised Notices on Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act, and the corresponding Revised Notices.
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ConsultationsPublished Date: 19 April 2022
Consultation on Revised Notices on Misconduct Reporting Requirements under the Financial Advisers Act, Insurance Act and Securities and Futures Act
This consultation seeks views on the revised notices on misconduct reporting requirements.
- Consultation number:
- P002-2022
- Start date:
- 19 April 2022
- Closing date:
- 20 May 2022
- MAS response date:
- 30 December 2025
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ConsultationsLast Revised Date: 14 May 2021
Consultation Paper on Revisions to Misconduct Reporting Requirements and Proposals to Mandate Reference Checks for Representatives
Proposed revisions to requirements for the submission of misconduct reports and proposals to mandate FIs to conduct and respond to reference checks on representatives.
- Consultation number:
- P012 - 2018
- Start date:
- 06 July 2018
- Closing date:
- 06 August 2018
- MAS response date:
- 14 May 2021
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NoticesLast Revised Date: 17 May 2013
Notice 504 Reporting of Misconduct of Broking Staff by Insurance Brokers
Requirements and template for reporting the misconduct of broking staff.