On June 15, the Monetary Authority of Singapore (MAS) issued a statement reprimanding four financial institutions for violating risk management and supervisory remuneration standards. While each institution was reprimanded for different things, the main issue was the breach in the Balanced Scorecard requirements (BSC) for the sale of investment products and the Spreading and Capping of Commissions requirements (SCC) for the sale of regular premium life policies. Under the BSC, supervisors’ and representatives’ variable income are determined with reference to the fulfilment of non-sales key performance indicators (KPIs). Under the SCC, insurers and FA firms are required to cap the variable income payable to representatives and supervisors in the first year and spread the remaining variable income payable over a prescribed period. MAS These guidelines were set in place by the MAS to ensure that the motivations of financial adviser (FA) businesses, representatives, and supervisors are aligned with the interests of their customers....