Saturday, October 18, 2008

MAS investigates allegations of mis-selling of Lehman products

How long the investigation is going to be remains to be seen. Till then I do pity those elderly who had misguided to putting their live savings into such a screwed-up investment product.

It has been confirmed (on 17/10, actually) that the Monetary Authority of Singapore (MAS) is "probing allegations of misconduct in the sale of financial products linked to collapsed US investment bank Lehman Brothers and other institutions."

Also reported that it will focus on cases of mis-selling products to "vulnerable" customers, meaning the elderly and those who are not well-educated.

Full story at ChannelNewsAsia.com article here.

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