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Tag Archives: Singapore

Posted in Asia, China and Hong Kong, Indonesia, Japan, Regulatory and legislative updates, Singapore, Vietnam

Changes in insurance regulation: China / Hong Kong / Singapore / Indonesia / Vietnam

Our Asia insurance regulatory tracker for the first quarter of 2018 is attached. It includes updates on the introduction of an insurance levy in Hong Kong, a consultation on agency recruitment incentives in Singapore, and new measures in relation to the use of insurance funds in China.

Posted in Asia, Regulatory and legislative updates, Singapore

Singapore: Strengthening of the Monetary Authority of Singapore’s anti-money laundering (AML) and counter-terrorism financing (CTF) powers

Background On 11 May 2015, the Monetary Authority of Singapore (Amendment) Bill (the Bill) passed its second reading in Parliament. The Bill will empower the Monetary Authority of Singapore (the MAS) to combat money laundering and terrorism financing more efficiently through a combination of centralised due diligence requirements, enhanced ongoing supervision and inspection powers, and

Posted in Market developments, Regulatory and legislative updates, Singapore

Singapore: consumers empowered to directly purchase and compare some life insurance products

Background Following the Financial Advisory Industry Review (FAIR) of the financial advisory market in 2013, it was accepted by the Monetary Authority of Singapore (MAS) that improvements should be made to the level of professionalism of financial advisors and to the efficiency from consumers’ perspective of the life insurance and investment product market. This year