Here is a list of the international advisory panel of MAS.
http://www.mas.gov.sg/about_us/IAP_Members.html
One member of the panel is the Chairman and CEO of Morgan Stanley. This is the bank that created the Pinnacle Notes that are sold to investors in Singapore. Morgan Stanley is now facing a class action taken in the New York courts on behalf of the Singapore investors for fraudulently creating the Notes, which has caused the investors to lose more than $100 million of their savings.
http://www.mas.gov.sg/about_us/IAP_Members.html
One member of the panel is the Chairman and CEO of Morgan Stanley. This is the bank that created the Pinnacle Notes that are sold to investors in Singapore. Morgan Stanley is now facing a class action taken in the New York courts on behalf of the Singapore investors for fraudulently creating the Notes, which has caused the investors to lose more than $100 million of their savings.
3 comments:
Precisely, dun understand why aggrieved investors of structured products still wan to sue the FI concerned, they will never win.
Dun waste money on legal fees.
The FIs, the Regulator and the Judiciary
in Singapore are all bedfellows.
The lawyer who takes up the investors' cases are out to make money only.
No use crying heaven and earth, just grit teeth and move on, and avoid all those so-called private bankers and RMs, wolves in disguise.
Hmm, now we have some idea why our MAS was ever so slow addressing the Mini Bonds/ Pinnacle Notes . In fact, should I conclude that MAS never look after its own citizens who were sold toxic "investments" in its own backyard !
Thank you Mr Tan for sharing this info. Not many people know that these US bigwigs who created the structured products that robbed some many S'porean retirees of life savings are buddy buddy with the enforcer. It's like you thought you are rescued by Hero's boat until you see pirates sitting next to the Captain.
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