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Credit Linked Notes Gathering
There will be another gathering this Saturday for affected victims of structured products (Minibond, DBS High Notes, Pinnacle, Jubilee) organised by Tan Kin Lian. Date of Gathering: 22nd August 2009 Place: Speaker’s Corner, Hong Lim Green Time: 5.00 pm Activities: 1. Speech by Tan Kin Lian 2. Hold placards with messages 3. Sign petition (for […]
Great Eastern Life to Refund Greatlink Choice Investors
In a surprise move yesterday, Great Eastern Life (GE) made a voluntarily offer to do an early redemption of their Greatlink Choice (GLC) products from 18,000 of its investors. The Greatlink Choice products were sold in five tranches between 2005 and 2007, collecting $594 million in premiums. It was marketed as a safe kind of […]
DBS High Notes Lawsuit
A group of more than 200 DBS High Notes 5 investors have commenced legal action against DBS. The group of investors is understood to have lost about S$17 million and are suing for a total refund of their investment money. Yesterday, a legal notice was served on DBS by legal firm Premier Law. The claim […]
Investigation Report on Structured Products Selling
Yesterday, MAS released their 99-page report on the selling of structured products by ten financial institutions. It detailed the process by which each financial institution sold the products, a tabulation of the amount of compensation received by investors, as well as actions taken against the financial institutions. Punishments include a ban of structured products selling […]
Lehman Linked Notes Compensation Tally
Based on the latest updates provided by MAS and reported by the Straits Times today, 67 percent of the 5350 complaint cases (mis-selling of Minibond, DBS High Notes, Pinnacle, Jubilee) dealt with by the financial institutions have been offered compensation. As at last month, $105 million worth of settlement was offered to 3600 of these […]