1. I have received the particulars of 70 investors of the credit linked securities. It will be quite difficult for me to communicate with you individually. I hope that you will refer to my blog each day to get the updated information.
2. I have arranged for two friends to help me to manage this group:
3. I have asked them to arrange a meeting for the investors to get together. Wait for further details.
4. The Monetary Authority of Singapore had advised these investors to approach the financial institution who sold them the structured product. The investor could seek redress from the financial institution for the loss due to mis-selling. The financial institution is required to have a process to deal with these complaints.
5. I suggest that you should, as soon as possible, write a letter addressed to the CEO of the financial institution from whom you have bought the credit linked securities (i.e Minibond, High Notes, etc). The letter should state the following:
a) What did you invest in, i.e. name of product, amount invested and other particulars?
b) How you happened to invest in these securities, e.g. convinced by the marketing officer to make the investment
c) Any assurances (verbal or otherwise) that you received concerning the low risk nature
d) Your personal risk profile, i.e. were you risk adverse?
e) Were you informed by the adviser about the nature of the risk?
f) Why you feel that you have not been properly advised, i.e. mis-selling, by the adviser?
g) Why a risky investment is not suitable for your circumstances
h) If you have any written evidence to support your statement, you should provide it in your letter.
6. You should send the letter as early as possible, to register your complaint of mis-selling. At this time, you do not need to have a sworn statement, i.e. affidavit. If necessary, you can prepare an affidavit at a later date, using a copy of your letter.
7. You should also see your Member of Parliament and give a copy of your letter to your MP. Let your MP be aware of your feeling on this matter and how painful it is to lose the hard earned money.
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09/21 - 09/28
- Prospectus for the Credit Linked Securities
- Regulation by the Dubai International Financial Ce...
- A view: Investors should bear bigger responsibilit...
- Avoid incurring a large debt
- Difficulty in Travel Insurance Claim
- Mis-representation in High Notes 2
- Fair Compensation
- Support for Petition
- Update (1) to investors of credit linked securitie...
- Sample letter of complaint
- Channel News Asia - Interview of investor
- Investing in stocks - online platform
- Credit Linked Securities - Q&A
- Overwhelmed by e-mails and questions
- Approach taken by Hong Kong Monetary Authority
- Lodge your complaint with your financial instituti...
- MAS statement on Protecting Policyholders
- Beware of ELN (Equity Link Notes)
- Experience in lodging a complaint with the bank
- Unable to pay premium till 70 - Revosave
- Business Ethics
- Preparing your statement or affidavit
- MAS statement on Structured Products
- Tell your Member of Parliament
- Special program on CNBC about Credit Linked Securi...
- Group Meeting of MiniBond Investors
- Lodge a complaint with the financial institution
- Investors of Credit Linked Securities - particular...
- Investors of Credit Linked Securities
- Hong Kong Monetary Authority
- Maintaining the cooperative spirit?
- Affidavit for investors of Credit Linked Securitie...
- Dubai, 24-27 Sep 2008
- Blog for Minibond investors
- Pinnacle Notes
- Proof of misleading advice
- Customer service on Motor Insurance
- OCBC Preference Shares
- Financial Adviser Act, Section 27
- Sad experience of a Minibond investor
- TV program on credit linked securities
- Investor in Minibond can seek redress
- Lack of transparency in terminal bonus
- A expert view about Structured Products
- Loss of hard earned money
- A flawed global financial system
- Book on Financial Planning
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