Singapore’s Fair proposals to hit insurers hardest

Singapore’s planned overhaul of its rules on providing financial advice will have the biggest impact on life insurance companies, argue market participants. Under the Financial Advisory Industry Review (Fair), the Monetary Authority of Singapore (MAS) is reviewing whether to limit or ban commissions and trailer fees. It will impact all firms in Singapore – from distributors to product manufacturers – directly or indirectly and has sparked fierce debate. Fair was announced on Mar…