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On Top of Our Game 42
We Ensure Players Play by the Rules
Government: Advocacy
CCS Competition Advisories
Throughout the year, CCS worked with different Ministries and statutory boards to understand the
markets they regulate better and provide advice on competition issues covering a whole range of
activities within these markets. This included, amongst other things, competitive impact assessments
relating to asset divestments, initiatives to improve service quality and productivity in specific markets,
programmes to improve the competitiveness of certain sectors of the Singapore economy, and
national efforts to address social and economic issues. In addition, as part of its continuous efforts
against cartels, CCS conducted training for procurement officers in government agencies to sharpen
their ability to detect bid rigging activities. We also worked with government agencies in the design
of their tender specifications to safeguard and enhance competition, as well as strengthen the legal
recourse of those established to be victims of anti-competitive activities. Specific examples of how
CCS has worked with government agencies are provided below.
Monetary Authority of distribution of life insurance initiatives that MAS consulted
Singapore and investment products in CCS on. In particular, CCS
In April 2014, the Monetary Singapore. The final initiatives considered how each initiative
Authority of Singapore (MAS) were announced in September would affect competition in the
consulted the Competition 2013 and MAS is progressively market and put forth several
Commission Singapore (CCS) implementing the initiatives over recommendations aimed at
on various initiatives that MAS the next 6 to 12 months. maintaining and enhancing
has proposed under the Financial competitive conduct in the
Advisory Industry Review (FAIR). Taking into consideration the market. MAS has incorporated
FAIR was aimed at raising these recommendations in the
characteristics of the FA industry
standards of practice in the and the objectives of FAIR, CCS final FAIR initiatives.
financial advisory (FA) industry undertook a competition impact
and improving efficiency in the assessment in relation to the
(From Left to Right): Ng Ming Jie, Senior Assistant Director, Policy & Markets; Herbert Fung, Director, Business & Economics;
Justina Sim, Competition Analyst, Business & Economics
We Ensure Players Play by the Rules
Government: Advocacy
CCS Competition Advisories
Throughout the year, CCS worked with different Ministries and statutory boards to understand the
markets they regulate better and provide advice on competition issues covering a whole range of
activities within these markets. This included, amongst other things, competitive impact assessments
relating to asset divestments, initiatives to improve service quality and productivity in specific markets,
programmes to improve the competitiveness of certain sectors of the Singapore economy, and
national efforts to address social and economic issues. In addition, as part of its continuous efforts
against cartels, CCS conducted training for procurement officers in government agencies to sharpen
their ability to detect bid rigging activities. We also worked with government agencies in the design
of their tender specifications to safeguard and enhance competition, as well as strengthen the legal
recourse of those established to be victims of anti-competitive activities. Specific examples of how
CCS has worked with government agencies are provided below.
Monetary Authority of distribution of life insurance initiatives that MAS consulted
Singapore and investment products in CCS on. In particular, CCS
In April 2014, the Monetary Singapore. The final initiatives considered how each initiative
Authority of Singapore (MAS) were announced in September would affect competition in the
consulted the Competition 2013 and MAS is progressively market and put forth several
Commission Singapore (CCS) implementing the initiatives over recommendations aimed at
on various initiatives that MAS the next 6 to 12 months. maintaining and enhancing
has proposed under the Financial competitive conduct in the
Advisory Industry Review (FAIR). Taking into consideration the market. MAS has incorporated
FAIR was aimed at raising these recommendations in the
characteristics of the FA industry
standards of practice in the and the objectives of FAIR, CCS final FAIR initiatives.
financial advisory (FA) industry undertook a competition impact
and improving efficiency in the assessment in relation to the
(From Left to Right): Ng Ming Jie, Senior Assistant Director, Policy & Markets; Herbert Fung, Director, Business & Economics;
Justina Sim, Competition Analyst, Business & Economics
