Thursday, July 2, 2009

Australia: List the names of underlying securities

Dear Mr. Tan,
The monetary authorities of Singapore and Hong Kong were foolish to approve the toxic products to be sold by financial institution and security firms to retail investor. They both wanted to compete to be financial centre, so they approve these products blindly.

When Australia approved these products to be sold, they insisted that the investment bank list out the names of the underlying securities. If people don't recognized these companies, they will not buy.

ST