MAS and PM decline request for a meeting

Dear Mr Tan

I refer to your requests to the Prime Minister and MAS to meet with yourself and a representative group of investors. The Prime Minister's office has referred the request to MAS.

MAS has responded to your petition on 31 August, where we set out our approach to handling investors' complaints on failed structured notes. This has also been explained to Parliament during its 20 July sitting and detailed in numerous MAS' public statements over the last nine months. We have released our investigation findings for the financial institutions that sold the notes as well as the regulatory actions taken.

MAS has addressed publicly, the issues raised in your petition on a number of occasions. As such, we decline your request for a meeting.

Investors who are not satisfied with the outcome of the financial institutions' resolution of their complaints can approach the Financial Industry Disputes Resolution Centre (FIDReC), or seek legal advice on the recourse that is available to them, based on their own facts and circumstances.

Yours sincerely,

Andrew Khoo
Executive Director, Capital Markets, MAS