MAS Seeks Comments on Proposed Revisions to Rules for Investment-Linked Insurance Policies
Posted on Thursday, January 15, 2004 - 05:16 PM
The Monetary Authority of Singapore (MAS) ton 14 January 2004 released a consultation paper on the proposed revisions to MAS Notice 307 on investment-linked insurance policies (ILPs).
MAS seeks to apply equivalent prudential and market conduct standards to financial institutions conducting business activities that are subject to similar risks. Harmonising regulations and supervisory processes across the financial sector will reduce opportunities for regulatory arbitrage. Recognising the similarities between ILPs and unit trusts, MAS intends to further align their current regulatory requirements.
The consultation paper is posted on the
MAS website. MAS requests that comments reach MAS by 27 February 2004.
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