Regulatory Alerts2021-10-28
Added
Amendments to MAS Notice 211
The Monetary Authority of Singapore issued amendments to MAS Notice 211 to update regulatory terminology and clarify requirements for direct general insurers. The revisions align the term 'work permit' with 'work pass', resolve inconsistencies regarding corporate agents, and exempt Trade Specific Agents from minimum academic qualifications. Additionally, the amendments grandfather pre-2005 agents and include specific new qualifications in Annex 1, with changes effective from 1 November 2021.
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