SCMP Report by: Michael Logan
DBS Bank in Hong Kong has said it will offer full compensation to customers who bought mini-bonds issued by Lehman Brothers. Customers only need to prove to DBS that DBS staff misled them during the sales process
http://www.scmp.com/portal/site/SCMP/menuitem.02bb4e979f5e08d5df646910cba0a0a0/?vgnextoid=a5a3dce60f1ec110VgnVCM100000360a0a0aRCRD&vgnextfmt=teaser&ss=Blogs&s=Home&type=Audio
E-mail: kinlian@gmail.com. Website: www.tankinlian.com Facebook: www.facebook.com/kinlian
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- Distributor: UOB Kay Hian
- Social responsibility to Singaporeans
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- File an affidavit to support your claim
- Rebuilding the Global Financial System
- High cost of life insurance at older ages
- Class action against Lehman Brothers in USA
- Is MAS at fault?
- Unhappy with bank's complaint handling process (3)
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- How the market really works
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- Complaint to MAS against a financial institition
- SCMP - DBS offers full compensationto mini-bond ho...
- Fiduciary duty
- HKMA vs MAS
- Global Financial Crisis - subprime loans
- Get information from my blog
- Book on financial planning
- Unhappy with bank's complaint handling process (2)
- Bank agree to buy back risky investments
- No personal investment in credit linked securities
- Media interviews on Petition
- Call for investors to take the next step
- Unhappy with bank's complaint handling process
- Financial institution fined for mis-selling
- Oversight of the complaint handling process
- Misleading advertisements
- Hong Kong: Minibond investors demand full refund
- Restrict the issue of credit cards
- Petition to Singapore Government - 983 signatures
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- New type of foreign talent
- Poor payout on Anticipated Endowment policy
- Is bond fund risky?
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- Coordinated interest rate cuts
- Reduced bonus under Income policies
- Dividend under STI ETF
- Credit default swap
- Full particulars of investors of credit linked sec...
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- File a police report
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- Consumer Association
- Collective Action against specific distributors
- Unable to give individual advice or attend to indi...
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- Service to the people
- CNBC short video on Minibond
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- A highly risky structured product
- Selling of life insurance through multi-level
- Engaging a lawyer
- Elderly get hit the most!
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12 comments:
To prove being misled can be quite tricky.
Jasmin
Is this true? There is hope for Singapore investors?
Why only compensate HK minibond holders, but not spore???????
Sad.
Why DBS, s Spore company, is so nice to HK investors, but not to our own people??
I would urge investors not to be overjoyed with this news. If you have read Mr.Tan blog with the investors feedback, most have stated that the bank said they have no case!
What is a SINGAPORE company not taking care of SINGAPOREANS first ???
I grew up with POSB/DBS, I don't think I can trust the bank anymore !!!
Even a spore coy is not interested in our interests.
The govt also don't seem to be interested.
Who is going to take care of our interests?? SAD to be a sporean.
If DBS Hong KOng compensated the investors, then, even DBS Singapore does not do the same, it is still good for Singapore investors, as we can use this as a prove of our case, when we go to court.
RJ
This is Injustice!
Are we still proud to be a $ingaporean?
Are we still trust that $ingapore government will take care of us?
After all, Just collect your pay of SGD $,$$$,$$$,$$$ pa. Sir.
Hey, we are loosing our LIFE SAVINGS - the monies that we exhange with our life's time and efforts!
DBS is going to get a very serious backlash from this not extending the offer to Singaporeans. The message it sends is very clear in regards to how it treats its customers relating to how much power they have. Darn, seems like there are almost no banks left with integrity.
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