MAS has released an announcement on the progress of the dispute resolution process so far.
From the numbers, it looks like only a few of those investors who purchased the Lehman Minibond from stock brokers are getting any compensation.
ABN, Hong Leong and Maybank are offering compensation to 75% of those who have filed a complaint. Out of those who complained at these three institutions, 34% are getting a full refund.
For DBS High Notes, only 24% of the investors who complained are getting any sort of compensation.
Investors who are not happy with the setttlement can go to FIDReC to lodge their case if their investment amount is less than $50k. For claims above that amount, FIDReC will be able to hear their case claims if either the FI agrees to allow FIDReC to hear the claim or the investor agrees to limit his claim to $50k.
Looks like the options are limited for those who have invested more than $50k.
Nevertheless, I think we have come a long way since the issue first surfaced and many of our government leaders gave their views of “Caveat emptor” to the press. Hopefully, other investors like the Pinnacle will be able to get some form of recourse too.