All investors in the DBS High Notes 5, Lehman Minibond and Jubilee Series programmes who feel they were mis-sold the product will have their complaints looked into, said the Monetary Authority of Singapore (MAS).
The regulator also said that its upcoming review of the structured products industry will cover areas such as clearer descriptions and better labelling of products and more professionally trained relationship managers.
About 10,000 retail investors here pumped over $500 million into structured products linked to now-bankrupt Lehman Brothers. Last week, DBS Bank, Hong Leong Finance and Maybank said they would look into complaints and fast-track vulnerable cases. This has led to some investors feeling worried about being left out.
How MAS works to ensure stability
From his 29th-floor office, Monetary Authority of Singapore (MAS) managing director Heng Swee Keat's view stretches over the harbour that made this island the entrepot centre connecting Asia and the wider world.
The MAS tower's other side looks out on the financial district that has drawn investment bankers, fund managers and other experts who smoothen the global flow of money, their presence contributing a steadily rising share to national wealth.
As a regulator and central bank, MAS has to be both watchdog for the financial industry and watchtower for the larger economy.
