Sunday, August 30, 2009

FISCA Committee

Someone expressed the concern that the FISCA committee may include people working for the banks. He had his money burnt through the Mini-bond and does not trust people anymore (including FISCA).

There is no need for this worry. The people from the banks will not be interested to sit in the FISCA committee. Even if they personally support the aims of FISCA, they will not dare to be involved (for the sake of their jobs). Similarly, most financial advisers are not likely to support or be involved with FISCA.

At present, we only have a protem committee in FISCA, and some of these members do not wish to be in the limelight. This is a temporary situation. FISCA will have to call an election. The profile of the elected Committee members will be put up in the website after the election.

FISCA will have the other challenge. How to get the financial experts to be involved in the work. Do not think that all this information can drop easily from the sky. Consumers should support FISCA now, if they do not wish to see their money burnt again in the future.

Tan Kin Lian
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2 comments:

Anonymous said...

People must understand the challenges. It cannot become full fledged overnight. You need people with financial knowledge and people with this knowledge may not dare to be involved.
So , please understand instead of demanding this and that.The first thing to do is join as a member. It is ONLY $36 and if you don't get enough benefits worth $36 after a year you can resign but FIRST JOIN FISCA.
First you must have people with CFA or CFP to come forward. They know investment and insurance and financial planning, retirement planning, estate planning. The question is WHERE TO GET THEM. Most of them are in practice and maybe attached or employed by a firm.
So, instead of asking for disclosure of committee members , leave it to Mr. Tan. Mr. Tan has come a LONG WAY championing your cause and unpaid and yet you still doubt his judgment.
Join FISCA to encourage him(not to support him, he doesn't need that, he can sleep at home)

August 30, 2009 2:15 PM
thefisherman said...

I support the mission of FISCA and signed up as a member immediately.

November 17, 2009 11:29 PM

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