Insurance Act 1966: Primary legislation governing insurance business in Singapore (Chapter 142) that sets out the fundamental regulatory framework for insurance companies and intermediaries
Financial Advisers Act: Core legislation (Chapter 110) regulating financial advisory services, including insurance distribution, and setting out licensing requirements and conduct standards
Insurance (Intermediaries) Regulations: Specific regulations governing the conduct, duties, and responsibilities of insurance intermediaries in Singapore
Financial Advisers Regulations: Detailed regulations implementing the Financial Advisers Act, covering operational requirements and conduct standards
MAS Guidelines on Standards of Conduct: Regulatory guidelines establishing expected standards of conduct and best practices for insurance intermediaries
MAS Notice FAA-N16: Specific notice regarding recommendations on investment products, including investment-linked insurance products
MAS Fair Dealing Guidelines: Guidelines outlining board and senior management responsibilities for ensuring fair dealing outcomes for customers
Licensing Requirements: mandatory licensing and registration requirements for insurance intermediaries operating in Singapore
Commission Regulations: Rules and restrictions governing commission structures and remuneration of insurance intermediaries
Disclosure Requirements: mandatory disclosure obligations regarding products, fees, commissions, and potential conflicts of interest
Fit and Proper Criteria: Standards for assessing the suitability of individuals and entities involved in insurance distribution
AML Obligations: Anti-money laundering requirements and procedures that must be implemented by insurance intermediaries
PDPA 2012: Personal Data Protection Act requirements governing the collection, use, and disclosure of customer data
Record Keeping Requirements: Obligations for maintaining proper records of transactions, client interactions, and compliance matters
Professional Indemnity Insurance: Requirements for maintaining adequate professional indemnity insurance coverage
Training Requirements: mandatory training and competency standards for insurance intermediaries and their representatives
Premium Handling Rules: Regulations governing the handling and processing of insurance premiums by intermediaries
Complaints Handling Procedures: Required procedures and systems for handling and resolving customer complaints
Marketing Restrictions: Rules governing marketing and advertising of insurance products and services
Cross-border Requirements: Regulations pertaining to cross-border insurance distribution activities and international operations
