By Francis Chan & Grace Ng

DBS BANK said yesterday it has started the process of compensating some customers facing losses from investment products linked to collapsed United States investment bank Lehman Brothers.

The compensation process was likely to be completed by the end of the year, a DBS spokesman said.

DBS and two other financial institutions, Maybank and Hong Leong Finance, said on Wednesday that they would be working to ensure that all deserving investors got their money back.

Bank clarifies mis-sold guidelines
By Grace Ng

DBS BANK has further clarified the standards that it is using to determine if its High Notes were mis-sold to customers.

The bank will consider a product mis-sold if it does not match a customer's risk tolerance and if it is not suitable for an investor, based on a careful analysis of his profile.

In a statement last night, DBS said that it has found a number of cases that did not meet the standards that it upholds, as the product was 'inconsistent with a customer's risk tolerance as captured by the Financial Needs Analysis'.

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