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MAS is putting up a wayang show..I can’t believe only a few and they are those who have quit the industry for reason obvious , even no fine they would still leave. MAS is sending a signal to consumers that it is their responsibility when buying financial products. The problem is the consumers didn’t buy but sold.Almost all the cases of fruad and mis-selling were referred by the bank tellers and accosted by the salesmen and held hostage to listen to the ‘too good to be true’ presentation.The RMs were in cahoot with the bank tellers or the tellers were told by the above to hijack their customers for the RMs.I wonder any kickbacks or co-broke.
How can this deter others from breaking the laws in the future? How will mis-selling of WL or anticipated endowment be curbed?
They should be sacked and their license revoked or jailed. They have character flaw and will not meet the fit and proper requirement of the FAA .They didn’t commit unconsciously but wilfully and knowingly because of the commission.How can punishment be so light ..it is ticklish, hor.
We are back to square one….