- Joined
- Sep 15, 2008
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OPPOSITION MP Low Thia Kiang wants the Monetary Authority of Singapore (MAS) to be more 'proactive' in dealing with investors who may have been mis-sold structured products.
The call by the Hougang MP came after a detailed overview by Trade and Industry Minister Lim Hng Kiang about the MAS stance on the sale of the products that have caused so much anxiety and anger in the community.
'The Minister's answers sound like the MAS shouting across the river, while watching a fire burning,' said Mr Low, who suggested the Government could form a committee 'to deal with the matter directly'.
Mr Low also asked if the investors' plight was the result of a 'less prudent regulation by the MAS' and 'the Government's decision to liberalise the financial market'.
He then asked the Minister, who is also MAS deputy chairman, whether the 'MAS agrees that the products sold by the financial institutions were low risk and safe'. ......
The call by the Hougang MP came after a detailed overview by Trade and Industry Minister Lim Hng Kiang about the MAS stance on the sale of the products that have caused so much anxiety and anger in the community.
'The Minister's answers sound like the MAS shouting across the river, while watching a fire burning,' said Mr Low, who suggested the Government could form a committee 'to deal with the matter directly'.
Mr Low also asked if the investors' plight was the result of a 'less prudent regulation by the MAS' and 'the Government's decision to liberalise the financial market'.
He then asked the Minister, who is also MAS deputy chairman, whether the 'MAS agrees that the products sold by the financial institutions were low risk and safe'. ......