Sunday, January 31, 2010

Pressure to develop the financial market

The pressure to develop the financial market caused the fiasco in the credit linked notes, according to this article. This is true, not only in Hong Kong but in Singapore as well.
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4 comments:

Anonymous said...

For the sake of a financial market MAS allowed the insurance companies and the banks to any how sell to chalk up some figures. Is figure very important? Is it more important than lives saved, someone's financial future, the retirees etc?
I know of a local insurance company desperate to be #1 and as result all cautions thrown to the wind. And the insurance agents willingly, greedily partnered the company to fleece their own policyholders on dubious products.
I wonder they have conscience or not.

January 31, 2010 2:39 PM
Anonymous said...

MAS thinks MoneySense can equip consumers to become financially literate when insurance agents spent 20 years in the business yet have no idea what finance or even insurance is all about.
I am not exaggerating. This is the painful truth that MAS refuses to admit.99.99% of the insurance agents are unqualified and this explains why they peddle products for commission.This is very dangerous. Unless MAS takes a drastic step by removing commission and make them do need based financial planning will the insurance agents ever learn., ie. force them. Shape up or ship out. Fleecing the consumers by product pushing is over.It will not turn Singapore into a financial hub with these wheeling dealing agents conning the consumers.

January 31, 2010 5:48 PM
Anonymous said...

There are many O level and A level
graduates need jobs to survive in
Singapore, and that explains why the Govt is reluctant to regulate
the insurance and other financial
companies, otherweise the unemployment rate will shoot up,
a bigger headache for the authorities. Just don't trust Govt
Institutions, trust only yourselves, and lay off all FIs, you
would be sacrificed for the sake
of Singapore's image and reputation.

January 31, 2010 10:19 PM
Anonymous said...

You can't solve unemployment at the expense of other citizens. These unsuitable people with character flaws should be deployed to other industries.You can't close your eyes to stealing becuase the thieves need to earn a living, right?
MAS must get rid of these thieves, MDRThief, COThief, TOThief before the others are impoverished by them.
It is true that these agents are thieves. Do they dare to show their work?I bet you you can pick out the mis-selling, the misrepresentation, the conflict of interest and the cheating in all their cases sold.MAS must quickly act on them before more consumers kenna conned.

February 01, 2010 10:28 AM

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