Monetary Authority of Singapore - Consumer Complaint

If you wish to lodge a complaint against an agent or a financial institution, you can refer to this guide in MAS website:

http://www.moneysense.gov.sg/contact_us/Consumer_Portal_Contact_Us.html#

Here is an extract from the webpage:

(IV) REPORTING A MATTER TO MAS

As the financial sector regulator, MAS' role is to ensure that financial institutions conduct their businesses in an appropriate manner and in accordance with the law. MAS is not able to resolve commercial disputes between you and your financial institution, or order the financial institution to pay compensation to you. We are, however, interested in matters that may raise issues of supervisory concern. These include violations of our rules and regulations, and breaches of other relevant codes of practice and guidelines.

MAS can...
Investigate wrongdoings by financial institutions (e.g. market misconduct like giving inappropriate or misleading advice, misrepresentation and lack of disclosure).
Take regulatory action against financial institutions that have breached our rules and regulations.

MAS cannot...
Intervene in matters relating to service standards, commercial decisions such as pricing policies of financial institutions, contractual arrangements and civil disputes.
Give legal advice or comment on cases that have been heard in court, adjudicated by FIDReC or are pending legal action.
Order financial institutions to compensate you.
Disclose the outcome of any investigations or actions taken against individual financial institutions.

If you wish to report a problem you have with your financial institution, please click here or write to
Monetary Authority of Singapore
Consumer Issues Division
Capital Markets Department
10 Shenton Way
MAS Building
Singapore 079117

Fax : (65) 6225-9766

ST Index is still falling

It could go down to 1900
http://tankinlian.blogspot.com/2008/09/how-far-more-for-st-index-to-fall.html

But it is not time to sell, and not time to buy.

Lodge your complaint with the Distributor

It is more important that each investor should write to lodge your complaint with the financial institution that sold the product to you. You can send a registered letter to make sure that there is a record of its despatch.

Read this blog:
http://tankinlian.blogspot.com/2008/09/lodge-complaint-with-financial.html

Some investors told me that they have difficulty in writing the complaint letter. My friend Adrian Tan has agreed to help. You can send your facts to him in by e-mail. He will try to write it for you.
Adrian Tan <atans1@hotmail.com>

Write to Monetary Authority of Singapore

If you wish to write to MAS, you can address your letter to:

Chairman
Monetary Authority of SingaporeConsumer
10 Shenton Way
MAS Building
Singapore 079117

You can send your letter by registered mail or by fax to
Fax : (65) 6225-9766.

If you wish to write to the Consumer Issues Department, you can follow this guide:
http://tankinlian.blogspot.com/2008/09/monetary-authority-of-singapore.html

Meet the Member of Parliament

The following people have volunteered to contact other investors in the same district to meet the Member of Parliament at the "Meet the People" session

Postal
Sector
12 Ho ES
14 Lee SK
15 Zhou
31 Anne Chua
32 Allan Kon
35 Alex Choo
52 Johnson Lee
53 H L Soh
54 Eunice Teo
55 Felicia Chua
65 Irene
73 Melvin

You can go to this website to find your MP.
http://www.parliament.gov.sg/AboutUs/Org-MP-whomp.htm

My blog passes 500,000 visitors on 6 Oct 2008

My blog passes the 500,000 visitors on 6 Oct 2008 (today). My earlier prediction was that this landmark will be reached by 11-11-2008. Due to the crisis on the credit linked securities, the visitors to my blog increased to 3 times of the normal level.

This is just for historical record. The blog started in Feb 2007, so it has reached this landmark in 20 months. The average visitorship is 25,000 a month. In recent days, it is 3,000 a day or 90,000 a month.

Petition to Singapore Government - Credit Linked Securities

I have now closed the Petition asking the Singapore Government to investigate wrong doing on the credit linked securities. A total of 1080 signatures have been received.

My team is now telephoning the signatories to confirm that they have signed the Petition. We wish to remove names that have been entered mischievously by other people. I expect that the final Petition will contain slightly more than 1,000 names.

I wish to ask all investors to lodge their complaint to the CEO of the financial institution that distributed the structured product. If the matter is not resolved, you can bring it to FiDREC (www.fidrec.com.sg).

The Petition ask the Government to investigate. It is NOT the channel to register your claims against the distributor. It does not replace the work that you have to do to lodge your complaint with the distributor and FiDREC. It does not matter to your claim, if your name does not appear in the Petition.