MAS plans crackdown on dodgy investment products

[Watchman]

MAS plans crackdown on dodgy investment products
FINANCIAL SERVICES | Elizabeth Low, Singapore
Published: 29 Jan 10

MAS plans crackdown on dodgy investment products
FINANCIAL SERVICES | MAS plans crackdown on dodgy investment products

Under new proposals, MAS may have more power to investigate company figures, take regulatory action and demand compulsory advising before the sale of products.

These were part of proposals raised in MAS’ consultation paper recently. Other proposed rulings are introducing a definition of “complex investment products”, risk rating of retail investment products, “health warnings” for complex investment products; remuneration structures for the sale of investment products and appointing an approved trustee for unlisted debentures.

These will apply to both listed and unlisted products. Financial advisers and brokers will be forced to formally assess a retail customer’s investment knowledge or experience before selling investment products to the customer. Customers who do not have the relevant knowledge or experience in specific unlisted investment products must be given financial advice before being able to purchase the product. For listed investment products, additional safeguards will be required when brokers approve trading accounts for customers who are assessed not to possess the relevant knowledge or experience in derivatives.

Other rules that may be imposed are expanding the scope of the CMFAS examination module (for unlisted “complex investment products”) to cover other non-excluded investment products, requiring issuers of debentures which are asset-backed securities and structured notes, collective investment schemes and sub-funds of investment-linked life insurance policies to prepare Product Highlights Sheets.

The proposals are still open to public feedback, and the consultation period will end on 12 March 2010.

 

[mscitw]

MAS prides itself for hiring fools who closed an eye and fold their arms when Lehman Bastards sold their toxic bonds in Peasantpore.

It pretend to fall asleep when irate peasants almost besieged MAS Building to demand their money back.

After many full moons of self denial and political pressure from the regime, it decided to divide peasants into various lots with non disclosure agreements to close the issue.

The MAS is answerable to no one and hence it was oblivious to the danger of toxic bonds. This is a case where high pay is no guarantee of stupid judgment and vigilant enforcement against bastards of Lehman's class.

 

[annexa]

Wasn't MAS among the top top hirers who need only 1st class, 2nd upper need apply and full of OVERSEA scholars? How come a simple Lehman ponzi scheme can escape their top talent minds?

 

[johnny333]

Will MAS be allowed to investigate Temasek

 

[streetsmart73]

Wasn't MAS among the top top hirers who need only 1st class, 2nd upper need apply and full of OVERSEA scholars? How come a simple Lehman ponzi scheme can escape their top talent minds?

hi there


1. just another worthless piece of shit, just like some a-star thing.

 

[eatshitndie]

Will MAS be allowed to investigate Temasek

old man started barking orders to all ministers to get the wayang going. they excel at 11th hour midnight oil burning - reminiscent of their scholar days in final exams.

 

[pfingo]

fat cat doing job now?

 

[johnny333]

old man started barking orders to all ministers to get the wayang going. they excel at 11th hour midnight oil burning - reminiscent of their scholar days in final exams.

Looks like the only time they have finals is once every 4 years. Its unsurprising that the country is going to the dogs.

Any organisation run by the whims of an 86 year old man is sure to have problems. .

Sporeans must vote more opposition in & let them watch the PAP. It's a full time job to make sure the PAP behave themselves

 

[eatshitndie]

Looks like the only time they have finals is once every 4 years. Its unsurprising that the country is going to the dogs.

Any organisation run by the whims of an 86 year old man is sure to have problems. .

Sporeans must vote more opposition in & let them watch the PAP. It's a full time job to make sure the PAP behave themselves

tell that to sinkies at large. all they care about is making sure they have a seat at the food court for their meals, either by tissue or by being an issue.

 

[cunnosieur]

BOC RELATIONSHIP MGR:

Lao Bang Lao Bang 老板、老板

Hiya Hiya..Lai Ma...嗨呀、来吗

You Qian Jui Shi Lao Bang 有钱就是老板

Wo Fu Wu Heng Hao 我服务很好的

Yi Tui Liang Tui...一腿两腿

Hiya Hiya...嗨呀 嗨呀

 

[cunnosieur]

Fun Guy
Samster Join Date: Aug 2008
Location: Singapore Ltd.
Posts: 107
My Reputation:Points: 77 / Power: 1


Re: PRC Bank Exec

--------------------------------------------------------------------------------

Hi to all Bros

Bro JJjumper
Bro, I have not mentioned which bank she work in and from what I know not all banks in Spore (Local and Foreign) required english speaking staff.

Local bank do required english speaking staff but that does not mean all are able to. For example (Pantry lady, Cleaner and etc....)

Foreign bank do required english speaking staff at the frontline but how about those at the backend. Those junior staff or lower ranking at the backend may not need to.

No offence to you bro....

Bro DL2UHI
Bro, what you have stated in your post is very true and well said. I can speak, sing and even scold in chinese or dialect but when I come to reading or writing, I am a total BLUR king.

Bro kefuso
Bro, I guess you may have misheard or there are some miscommunication between you and her. She has never told anyone that she is working in a factory. What she has told me is she is rushing some work at her colleague house and need to be handed over the next day. She say she is still very new working there and that why she need to go over to her colleague house to finish her work.

Bro there are many levels in the bank and she maybe a small little fly over there. She may not understand what you have know. There are many frontline staff at our local bank and when ask some question, they always tell us to wait and will ask their senior to talk to us.

I hope I am right bro. No offence to you............

Bro Cunnosieur
Bro, what you have posted up is a profile of a manager and a senior officer position. I have only stated that she work in the bank as a exec.

An exec. could mean = admin, clerk, trainee staff or some backend staff.

No offence to you bro........

Bro aczeta76
Bro there is no need for me to lied or fish up some story here. She is who she is and there is no need for me to debate on her job scope.

As for her pricing bro, I have total no say to that. I have told her about it. Like I say, everyone has their own view and opinion. Good or Bad is not up to me to decide. KTV gals are even more pricey and there are still many of us here going for it.

To me there are no wrong or right, it is up to individual to decide as long they are happy.

No offence to you bro........

 

[cunnosieur]

PRC Bank Exec

--------------------------------------------------------------------------
Happen to be at waterloo street doing some bank transaction yesterday lunch time, was told by the counter staff to wait for 15min to half an hour. Went out for a quick puff and saw this gal leaning on my car talking on her phone. The moment she lift up her head, I was WOW..... Not bad leh. She smile back and say sorrie, I told her to carry on leaning in a joking way. We chatted awhile and got to know that she just arrived 3 weeks ago working at the Bank which I just went. So I try to date her out for a drink and she say OK (My Lucky Day).

Pick her up after her work at 5.30pm and we went downtown for dinner. I was trying my best to test water (NO LUCK). We headed to Boat Quay for a drink after dinner and I told myself this time DIE DIE also must ask. All of a sudden, she burst into tear (ALCOHOL EFFECT), saying she misses her parent. I try to console her and told her not to think so much. Time passes and we are now more open up, I pop up the question to her:

Me: Why dun you try to earn more money while you are in SG?
She: How to?
Me: Do part time lor.
She: What is part time?
Me: Must I go into detail, then you can understand.
(Slient for a while) and (Burst into laughter)
She: How much am I worth in your eye.
Me: Hard to say, depends on how good are you.
She: How much do you want to give me, if I say OK to you.
Me: 150 lor (Man Ego).
She: If I am good to you, you give me more is it?
Me: Let see how good are you.
Me: How???
She: Can try. Is it now?
Me: Now lor. If not when?
She: Where?
Me: I bring you there.

10.45pm we check into a hotel at chinatown and the rest is story.....

Name: Txxx Xxxx
Age: 25
Look: 7.5 (Young office exec look)
Stats: 34B / 24 / 34 (I think so)
BBBJ: Yes for me
FJ: 9 (good moaning)
Painting: Yes for me
CIM: No
AR: No
AJ: No
Attitude: Very anticipating
Damage: 150 / 1shot
Overall: Good
RTF: Yes for sure (Bonking a Pretty Bank Exec)

 

[johnny333]

tell that to sinkies at large. all they care about is making sure they have a seat at the food court for their meals, either by tissue or by being an issue.

I think enough Sporeans have finally reached the stage of enlightenment. & ready to hold the PAP accountable.

Sporeans are generally selfish but when they start loosing their jobs & material wealth, they need someone to blame.

They can't place the blame on some bogey man from Malaysia, the communists, terrorists,..... These problems are home grown, created by our PAP talents.

Even if the PAP wins the elections, what then There are still many unemployed Sporeans out there. Wouldn't be surprise if despair turns to violence

 

[jw5]

It's more important to crackdown on dodgy bank and insurance company employees.