Friday, September 04, 2009

BBC: Millions make finance complaints

Read this article.

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3 comments:

Anonymous said...

Regulators approved MB

Banks sold MB to unsuspecting risk adverse investors.

Securites Houses did the same but hide behind "order execution only" that don't have FA license but provide financial advise anyway.

In summary:
===========
Regulators prepare the autopsy table
Banks lay the investors on the table
Securities Houses Suck investors dry then say, "order execution only, investors lay down on the table on their own, they know the risk."

All have the same answer when asked by the press: NOT MY FAULT, IT'S THE INVESTORS' FAULT.

September 04, 2009 11:34 AM
Anonymous said...

In Singapore millions don't know how to complain otherwise we too have million complaints against financial cheats, from insurance agents, RMs, estate agents,and time share salesmen.
Insurance agents will win in this contest and in second place time share salesmen and followed by property agents and RMs in the banks.
Singaporeans are generally kiasi or have no idea where to conmplain. MAS should provide a few simple and non threatening channels for public to complain against these cheats.
Nobody knows there is a whistle blowing channel in the insurance companies, the banks to report the malpractitioners or staff , the agents and even the ceo .
THese companies downplay the presence of this channel and only mention in passing to comply with MAS.
This is the problem with self regulation.MAS is also abetting the FIs indirectly if they don't audit and check on them to test the system.

September 04, 2009 1:27 PM
Anonymous said...

MAS stands for Mana Ada System meaning Where Got System? Don't expect anything from MAS which equals to garmen.

September 05, 2009 12:11 AM

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