Regulatory Alerts2025-12-30
Added
Notice on Reporting of Misconduct of Broking Staff by Insurance Brokers and of Representatives by Accident and Health Insurance Intermediaries
The Monetary Authority of Singapore issues this Notice to require insurance brokers and accident and health insurance intermediaries to report misconduct by their staff and representatives. Entities must submit Misconduct Reports and Investigation Reports within 21 days of forming reasonable grounds to believe misconduct occurred, including details of police reports and internal investigation outcomes. The regulation also mandates the provision of these reports to concerned staff, the maintenance of relevant records for at least five years, and applies to misconduct cases arising before the 1 January 2027 effective date.
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