Aviva Ltd has had to pay $5,000 to the Monetary Authority of Singapore for contravening s23B(3) Financial Advisors Act - something for which its British counterparts would have had to pay twentyfold.

The subsection stipulates that a principal must not permit anybody to provide any type of financial advisory service on its behalf unless he is an appointed representative or provisional representative in respect of that type of financial advisory service. Aviva let three of its representatives provide on its behalf the financial advisory services of advising others and arranging contracts of insurance (but not reinsurance) in respect of life policies. It broke the rule between 26 November 2010 and 17 December 2013 when they were not appointed or provisional representatives in respect of those types of financial advisory services.