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SINGAPORE : The Monetary Authority of Singapore (MAS) is urging financial institutions to assess structured products that are linked to Lehman Brothers to determine how investors will be affected.
Financial institutions are also required to update all affected investors as soon as information becomes available.
This follows the collapse of the US investment bank last week.
The MAS said that investors who consider that they were mis-sold a product or that a product was misrepresented to them should contact their financial institution first.
Financial institutions here have been instructed to give priority in dealing with such queries and handle complaints promptly, in accordance with existing MAS requirements.
Investors who do not receive a satisfactory response from their financial institution can then approach the Financial Industry Disputes Resolution Centre (FIDReC) for further assistance.
The FIDReC is an independent and impartial organisation set up in August 2005 to help resolve disputes in the financial sector. - CNA/ms
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