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Singapore regulator wants to raise bar for insurance industry, may impact fee earned by private banks

Following Monetary Authority of Singapore’s (MAS) attempts to raise the bar for insurance providers in the region, private banks may find themselves re-thinking how they sell insurance products to clients. Similar in tone and intent to the UK’s Retail Distribution Review (RDR), the new standards could impact how insurance is offered at private banks that don’t have an in-house practice….

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