Banks banned from selling credit insurance

Read this article
http://www.bloomberg.com/news/2010-10-14/u-k-antitrust-regulator-to-ban-banks-from-selling-most-credit-insurance.html

The banks are banned from selling the credit insurance on the grounds that they are offering an over-priced product that is unfair to consumers. The ban is to ensure that the consumer can get products at the best market rate by shopping around.

When will this type of protection come to consumers in Singapore?