Parliament Answers to Lehman Structure Products - 20 July 2009

Dear Mr. Tan,

QUOTE: MAS’ role is not to judge the merits of the product being offered. Rather, MAS checks that the issuer discloses the features and risks of the product, and that there are no false or misleading statements. MAS does so based on the information provided by the issuer and its advisers.

The most significant point from the above statement of the Deputy Chairman is "MAS does so based on information provided by the issuer and its advisers".

If subsequently the court find that the prospectus and pricing statements:
* fail to disclose the features and risks of the product and
* there are false and misleading statements
the investor is able to claim for full recovery of the investment.