Regulatory Alerts2022-03-22
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Publication of Best Practice Papers by the Insurance Culture and Conduct Steering Committee
The Monetary Authority of Singapore issued Circular No. ID 03/22 to encourage insurers and intermediaries to adopt best practices released by the industry-led Insurance Culture and Conduct Steering Committee. The ICCSC published two papers on culture and conduct regarding human resources and corporate governance, with a third paper on life insurance intermediaries scheduled for April 2022. MAS urges all market participants to study these guidelines to reinforce customer trust and strengthen standards of conduct within the Singapore insurance sector.
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