Singapore
FPI exits all markets bar Asia, ME and South Africa
Friends Provident International is abandoning all of its global operations, excluding Hong Kong, Singapore, Dubai, and the ‘permitted jurisdictions’ of South Africa and Qatar.
Zurich transfers Singapore adviser network to Nexus
Zurich Life Insurance (Singapore) has agreed to hand over all of its approximately 160 appointed financial advisers in the city state to Nexus Financial Services, part of the Middle East-based Nexus Group, in response to changes in the regulatory landscape.
Singapore U-turns on fund passport regime due to unfair tax rule
The Monetary Authority of Singapore said it backed out of a fund passport initiative because the legislation failed to address inequalities in the tax treatment of local and foreign investors.
Investors can opt-in to Singapore safeguards under new rules
Wealthy Singapore investors will be able to choose their own level of regulatory protection when new rules come into force next year.
Mercer fined by MAS for unlicensed selling of life policies
The Singapore-based arm of Mercer has been fined by the Monetary Authority of Singapore for allowing unlicensed representatives to arrange contracts for life insurance policies.