tag:blogger.com,1999:blog-11702093.post6450590705611892545..comments2024-03-28T22:56:40.743+08:00Comments on Tan Kin Lian's Blog: New regulations on financial productsTan Kin Lianhttp://www.blogger.com/profile/00617069056914635271noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11702093.post-64310514374840061862011-12-06T09:01:57.328+08:002011-12-06T09:01:57.328+08:00To eliminate TOXIC financial PRODUCTS from being s...To eliminate TOXIC financial PRODUCTS from being sold in Singapore;<br /><br />Why doesn't Singapore government use the same operating model as that used in eliminating TOXIC food PRODUCTS from being sold in Singapore?<br /><br />From the website of;<br />Singapore's Agri-Food and Veterinary Authority of Singapore.<br /><br />Vision<br />-------<br />Safe food, healthy animals and plants for Singapore; trusted and respected globally.<br /><br />Mission<br />--------<br />Ensure a resilient supply of safe food;<br /><br />Ensure the health & safeguard the welfare of animals;<br /><br />Safeguard the health of plants;<br />Facilitate agri-trade; <br />and <br />Nurture and inspire staff to be the best we can be!<br /><br />http://www.ava.gov.sg/AboutAVA/VisionMissionValues/Singapore's 5 Minute Investment Diaryhttps://www.blogger.com/profile/06643736619481219029noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-69708400206629210582011-12-05T22:56:33.762+08:002011-12-05T22:56:33.762+08:00I quoted this example to the journalist. A doctor ...I quoted this example to the journalist. A doctor is trained to diagnose the ailment of a patient and to prescribe the appropriate medicine.<br /><br />The doctor does not carry out his own assessment of the merits of each drug, but relies on the research carried out by the approving authority, i.e. the health science authority. The authority will classify the medicine into those that are unsafe, those that are safe under certain situation and those that can be sold over the counter and bought by consumers.<br /><br />The role of the doctor is to use the expert research and prescribe the appropriate medicine to the patient.<br /><br />It is not possible for the doctor to do the work safely, without the research carried out by the scientist.<br /><br />The same situation apply to financial products. The experts must analyse the product and advise the financial advisers and relationship managers on those that are suitable or not suitable to be sold to consumers, and the circumstances in which they are considered to be suitable.Tan Kin Lianhttps://www.blogger.com/profile/00617069056914635271noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-73712655242108614702011-12-05T22:47:17.297+08:002011-12-05T22:47:17.297+08:00I am quite sad that Singapore will continue to go ...I am quite sad that Singapore will continue to go down the slope, and there is nothing that can be done to correct the situation. <br /><br />We have this mindset to avoid responsibility by pushing it to somebody else, and to create a lot of waste just to look good (someway say "wayang"). <br /><br />The people in leadership, from the ministers to the top civil servants, are brought up in this culture. And it has become the Singapore system - and is too deep rooted. It is quite sad.Tan Kin Lianhttps://www.blogger.com/profile/00617069056914635271noreply@blogger.com