Notices
Notice FAA-N19 Distribution of Direct Purchase Insurance Products
Requirements for financial advisers and their representatives with respect to the distribution of direct purchase insurance products.
Issued pursuant to:
This notice applies to licensed financial advisers, exempt financial advisers and their representatives.
It covers the following requirements in respect of the distribution of direct purchase insurance products:
- Implementation of safeguards.
- Provision of product information.
- Provision of avenues to address general queries.
- Implementation of internal policies and processes.
- Roles and responsibilities of a representative or customer service officer.
Amendment Notes
- 30 August 2019
- FAA-N19 (Amendment) 2019 takes effect (249.2 KB)
- 30 March 2015
- Previous version issued on 30 Mar 2015 (42.4 KB) [Cancelled]
Related to this Notice
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GuidelinesLast Revised Date: 28 February 2024
Guidelines on the Online Distribution of Life Policies With No Advice [FAA-G15]
Guidelines for financial advisers to safeguard the interest of clients when distributing life policies online without the provision of advice.
-
ConsultationsPublished Date: 02 October 2014
Consultation Paper on (1) Draft Legislation and Proposed Legislative Amendments to Effect the Policy Proposals under the Financial Advisory Industry Review; and (2) Proposed Legislative Amendments to Authorise Inspections by Foreign Regulatory Authorities under the Financial Advisers Act
Proposed legislative amendments to raise the competency of FA representatives and quality of FA firms; lower distribution cost by enhancing market efficiency; and promote a culture of fair dealing.
- Consultation number:
- P022-2014
- Start date:
- 02 October 2014
- Closing date:
- 03 November 2014
- MAS response date:
- 11 May 2015
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ConsultationsPublished Date: 05 March 2013
Consultation Paper on Recommendations of the Financial Advisory Industry Review
Proposed recommendations aimed at raising the quality of financial advisers (FA) and competency of FA representatives, improving efficiency in the distribution of life insurance and investment products, and promoting a culture of fair dealing in Singapore.
- Consultation number:
- P004-2013
- Start date:
- 05 March 2013
- Closing date:
- 04 June 2013
- MAS response date:
- 30 September 2013
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ActsPublished Date: 31 March 2007
Financial Advisers Act 2001
Governs the regulation of financial advisers in Singapore, including their representatives and supervisors.