They have been banned for periods varying between three and five years. Read more at straitstimes.com.
SINGAPORE – Four former representatives from insurers Aviva and AXA, and one other person, have been banned by the Monetary Authority of Singapore for several years for illegally recruiting unlicensed individuals to perform financial advisory services on their behalf.
Additionally, Mr Tan and Mr Wu were banned from carrying on business as an insurance intermediary and from taking part in the management of any insurance intermediary. AXA was also misled into believing that the policies were sold by Ms Phua when the policies were sold by Ms Tong, MAS added. Mr Wu, who was Mr Kelvin Tan’s supervisor, provided guidance and updates regarding the clients’ policy documentation, as well as the status of the policies to the person, despite being aware of the unlawful arrangement.
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MAS bans 4 former Aviva and AXA financial advisers for engaging in unlawful sub-agency activitiesFour former representatives from insurers Aviva and AXA, and one other person, have been banned for several years for illegally recruiting unlicensed individuals to perform financial advisory services on their behalf. The Monetary Authority of Singapore (MAS) banned five of...
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MAS bans 4 former insurance advisers for unlawful sub-agency activitiesp class="CxSpFirst"strongspanspanspanThe ban includes one other individual, barring the five insurers for 3 to 5 years.
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MAS issues net-zero emission transition guidelines for financial institutionsThese efforts should also include working together to implement measures to reduce carbon emissions. Read more at straitstimes.com.
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MAS bans 4 former Aviva and AXA financial advisers for engaging in unlawful sub-agency activitiesFour former representatives from insurers Aviva and AXA, and one other person, have been banned for several years for illegally recruiting unlicensed individuals to perform financial advisory services on their behalf. The Monetary Authority of Singapore (MAS) banned five of...
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