RegAlertRule · MAS · 19 Feb 2021
Amendments to MAS Notice 306
The Monetary Authority of Singapore issued Circular No. ID 02/21 to amend MAS Notice 306 regarding reporting obligations for life insurers. The update removes the requirement for insurers to submit information on financial advisory services via Appendix A. This change takes effect on 22 February 2021.
Circular No. ID 02/21
19 February 2021
To Chief Executives
All Direct Life and Composite Insurers
Dear Sir/Madam
AMENDMENTS TO MAS NOTICE 306
Currently, life insurers are required to submit information on its provision of financial advisory services annually to the Monetary Authority of Singapore (“MAS”) as per paragraph 19 of MAS Notice
306. MAS has performed a review of the information collected under MAS Notice 306, and determined
that the submission requirement for Appendix A is no longer required. MAS Notice 306 has been updated to remove the submission requirement for Appendix A with effect from 22 February 2021. 2 If you have queries, please contact your company’s liaison officer in MAS. Thank you. Yours faithfully [sent via MASNet] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT
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- Obligation 1
- Definition / condition 4
- background, boilerplate
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