MAS yesterday announced their response to their Consultation on Recommendations of Financial Advisory Industry Review (FAIR). It is quite a lengthy response and I will discuss on some of its contents in a later post. While there are many positive changes for the consumer, the amount of compliance and paperwork that are required by financial […]
China has moved in a big way to eliminate financial scam advertisements. Advertisements for a wide variety of products, ranging from wealth management products, loans and real estate to other no-risk high returns schemes such as trees and animals will be targeted. A forceful approach has been taken as financial literacy has generally lagged rising […]
The Singapore Red Cross (SRC) has received notifications on several cases of individuals claiming to be volunteers and soliciting donations on behalf of the Singapore Red Cross. They carry falsified documents and collaterals that bear the Singapore Red Cross logo along with fake fund raising licenses. We would like to state that these are not […]
The other day, someone approached my friend with an opportunity for a crowd funding investment. After listening to the presentation, my friend and I had a good laugh. This was obviously a novice company (and sales person) trying to ride the crowd funding trend to sell a questionable investment. Person X met up with us […]
Investors of The Gold Guarantee have been hit with a new problem. Although the owner of the company had run away and defaulted on the company’s buyback obligations, the investors comfort was that well, at least they still had their gold with them. It appears that they are now having problems selling their gold to a […]