SINGAPORE (Dec 2): The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) to two former insurance agents for dishonest conduct.

Today, the central bank issued a four-year PO to Chong Yoon Loi, formerly from Aviva Financial Advisers (AFA), who misled two policyholders into believing that they could hold more than one integrated shield policy, when their applications would result in the termination of their previous policies.

Chong had also provided false information in the applications of the three policyholders to Aviva and AFA to prevent the policyholders from being identified as “vulnerable clients”. Should they have been identified as such, AFA would have contacted them to ensure that they had understood the policies they were purchasing ... (click on link for full story on theedgesingapore.com).