Tuesday, July 07, 2009

Prevent Mis-selling of Financial Products

I wrote an article to suggest the following measures to prevent mis-selling of financial products in the future, namely:
a. Enforce the law
b. Allow contingenncy fee system
c. Set up a consumer protection agency.

Read this article.
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4 comments:

JamesNeo said...

Excellent article but i hope you sent it to someone of higher authority who might take a look at your article and not chuck it to the recycle bin which the civil servants would do

July 07, 2009 11:38 AM
Anonymous said...

I am sure the authorities are aware that there can be such measures.

It has been 10 months since the Minibond fiasco but the authorities have not publicly say anything on it, let alone implementing them.

Maybe we should ask them why they hesitate to do it.

July 07, 2009 1:00 PM
Anonymous said...

Mr Tan,
VG article. Plse send one copy to FIDReC CEO. One of the adjudicators has shown clear bias towards one of the FI.

July 07, 2009 1:59 PM
symmetrix said...

Dear Mr Tan KL,

I read your article with interest, especially the para on Consumer Protection Agency.

Yes, somebody must do this job. I would think MAS would be in the best position to do this, as they have all the financial experts and resources. If MAS cannot handle this impt role, then it should create a new dept to do it.

July 07, 2009 9:58 PM

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