Thursday, October 30, 2008

Misleading Prospectus

The strategy committee will be getting legal advice to see if the prospectus breach the disclosure standard expected under the Securities & Futures Act.

If the case is strong, we will be able to take the following actions:

a) Lodge a Police report on the breach of the law, leading to investors being cheated
b) Take collective legal action against the distributor.

6 comments:

Anonymous said...

Trust me there will be NO outcome.

Anonymous said...

Mr. Tan,
The Strategy committee should also look at the press advertisement and the brochures. All these are solid evidence. The selling process and all the forms signed are against the investors but the starting point of a sale process starts from printed materials! The signed forms would be against what ever the RM have told the investors because they have the printed evidence!

Goh said...

1.35pm,

I say there will be OUTCOME. We SINGAPOREANS MUST STAND FIRM ON THIS ISSUE AND NOT LET THE BANK BULLY US.

Mr.Tan, please open the petition to non-investors too. We are standing behind these victims. This is Singapore'spirit. Helping those who are in need. Though I do not invest, I want to see justice done. We Singaporeans are people with integrity and emphathy. We will sign and support the petition, so that the MAS and government will be able to see Singaporeans' frustration with current banking system and we want to see positive CHANGE to the banking regulation.

Anonymous said...

you have absolutely NO idea what you are tampering with

really

G C said...

Please forget about prospectus. This is only for financial analyst or for academic research. Please believe me no single investor will be able to understand what is written in the prospectus.

Prospectus is documents just serve the purpose of covering the issuer the risk being get sued by the investors

Anonymous said...

Hi Mr Tan,
Other than the prospectus, suggest the committee to pls check if the products are covered under Financial Advisor Act Chapter 110 (S775) which is for Structured Deposit.

Ben

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