DPM and Finance Minister Tharman Shanmugaratnam's parliamentary reply
("Tharman warns operators of gold buy-back schemes against fraud"; Oct 17)
and the replies by the Monetary Authority of Singapore
("MAS spells out regulatory criteria"; Oct 20
"MAS explains extent of its alert list"; last Saturday)
have not comforted investors like me
who bought into the gold buyback scheme offered by Genneva,
which is currently under investigation.
Mr Tharman's reply suggested that the authorities indicated a recognition
of the heightened risk of non-discerning investors
putting money into seemingly high-yielding schemes
in the current low interest rate environment.
Yet, it seems that
there was no corresponding increase in regulatory oversight.
Ow Bin Bing (Ms)
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