The MAS announced its intention to review financial services in Singapore, making special mention of commissions and layering of commissions on insurance products.
The review is welcome and is the first step toward creating a fee based model in Singapore.
An awful lot of consultation and research now needs to take place, but this is the biggest shake up in Singapore Financial Services since the introduction of the Financial Advisers Act.
Mark Paine
Meyado
www.meyado.com.sg
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