Regulatory Alerts2018-06-29
Added
Notice 318 Market Conduct Standards for Direct Life Insurer as a Product Provider
The Monetary Authority of Singapore issued Notice 318 to establish mandatory market conduct standards for direct life insurers acting as product providers. The regulation imposes strict requirements on disclosures, the sales process, policy replacements, loans, and cessation of business with financial advisers. It also defines non-mandatory standards for disclosure and mandates specific reporting obligations to the regulator.