Friday, October 10, 2008

Petition has been lodged

I have people asking me to add their names to the Petition that has been lodged. This is not necessary.

The Petition ask the Government to investigate. It is NOT the channel to register your claims against the distributor. It does not replace the work that you have to do to lodge your complaint with the distributor and FiDREC. It does not matter to your claim, if your name does not appear in the Petition.

You should lodge their complaint to the CEO of the financial institution that distributed the structured product. Read this webpage:
http://www.moneysense.gov.sg/publications/guides_publications/Consumer_Portal_Redress_Guide.html
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4 comments:

  1. singaporenewsalternativeOctober 10, 2008 9:46 AM

    Dear Mr Tan,

    Seems that the Merrill Lynch Jubilee Series 3 LinkEarner Notes are now worthless. Pls refer to this blog:

    http://investsgx.blogspot.com/2008/10/investors-of-merrill-notes-to-get-back.html

    ReplyDelete
  2. AnonymousOctober 10, 2008 10:25 AM

    But all the uncles and aunties will not know how go about making the complaints. Many do not even understand English.

    ReplyDelete
  3. AnonymousOctober 10, 2008 10:36 AM

    please do not expect other to do the job for you. Click the MAS's complaint website and key in your particulars and tell MAS how the Banks convinced you to invest in these risky products. Only then The Authority would know how the bank pushing these "toxic" products to consumers in the last few years. You have nothing to loose. What is needed on your part is 10 minutes of your time and you could help to turn this around.

    ReplyDelete
  4. AnonymousOctober 11, 2008 1:26 AM

    Last week, I received letter from DBS about HN2. After check with their adviser that is only left 12% value. Very surprise as i had been emphasis when i bought it with the adviser that i don't want to have any investment risk or capital guarantee.

    She told me don't worry that is 100% guarantee.

    Sometimes back, when i received their statement once, i found that is a value decrease, so i called but the adviser had left DBS and the other guy who take over my account told me the same thing that: 'YES, SO LONG I DON'T TERMINATE THIS CONTRACT, I WILL HAVE 100% RETURN WHEN IT DUE'

    But after today, they turn and change the words. Finally, DBS adviser told me that "DON'T THINK TOO MUCH'????????

    ReplyDelete