Sunday, April 26, 2009

UK: Banks face fine for poor service

I hope that MAS will implement similar measures in Singapore. Read this.

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2 comments:

zhummmeng said...

FISCA should also serve as watchdog for consumers of insurance and investment.Not only providing advice and education FISCA should help in the review of existing insurance policies and investment for consumers for mis-selling and unethical selling and inappropriate recommendations.
FISCA can have a legal panel of lawyers who can provide contingency fee service to help consumers take errant insurance agents and FIs to court.
MAS as regulator will not be able to micro manage .This complementary service should relieve MAS of the pressure and to focus on enforcing and policing the FIs and the sale reps at company level.

April 27, 2009 12:20 AM
zhummmeng said...

FISCA should also serve as watchdog for consumers of insurance and investment.Not only providing advice and education FISCA should help in the review of existing insurance policies and investment for consumers for mis-selling and unethical selling and inappropriate recommendations.
FISCA can have a legal panel of lawyers who can provide contingency fee service to help consumers take errant insurance agents and FIs to court.
MAS as regulator will not be able to micro manage .This complementary service should relieve MAS of the pressure and to focus on enforcing and policing the FIs and the sale reps at company level.

April 27, 2009 12:20 AM

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