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We thank Mr Tan Siak Khian for his letter ( , Oct 14). Consumers who have complaints against any financial institution should first contact it directly. The Monetary Authority of Singapore (MAS) expects all financial institutions to have in place a process to resolve consumer complaints promptly and effectively. If consumers are not satisfied with the financial institution’s response, they may approach the Financial Industry Disputes Resolution Centre (Fidrec) ( ). Fidrec is an independent and impartial institution that provides low-cost dispute resolution services for consumers and their financial institutions. If a consumer has a dispute of a clinical nature with an insurer on an Integrated Shield Plan claim, such as rejection of claims for a medically appropriate procedure or treatment, a case can be filed under the Clinical Claims Resolution Process ( ). It is a voluntary claims resolution process that provides a low-cost avenue for recourse for policyholders. While MAS does not resolve individual disputes that a consumer may have with a financial institution, consumers should file a report with MAS if they suspect that a financial institution or its representative has committed a regulatory breach or misconduct. MAS will investigate and take appropriate regulatory action against the financial institution and any person in breach of MAS’ rules and regulations. Where appropriate, MAS will also publish the regulatory action it has taken. More information can be found on MAS’ website ( ). Director (Corporate Communications) Monetary Authority of Singapore