Comments on: ST Forum: MAS should have been more objective http://geraldgiam.sg/2009/07/st-forum-mas-should-have-been-more-objective/ Alternative proposals for a better Singapore Sun, 05 Feb 2012 06:59:13 +0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Enlaroboorm http://geraldgiam.sg/2009/07/st-forum-mas-should-have-been-more-objective/comment-page-1/#comment-2944 Enlaroboorm Fri, 14 Aug 2009 06:03:24 +0000 http://geraldgiam.sg/?p=796#comment-2944 This looks cool so far, what's up people? If there are any real people here looking to network, leave me a post. Oh, and yes I'm a real person LOL. Later, This looks cool so far, what’s up people?
If there are any real people here looking to network, leave me a post.
Oh, and yes I’m a real person LOL.

Later,

]]> By: Gerald Giam http://geraldgiam.sg/2009/07/st-forum-mas-should-have-been-more-objective/comment-page-1/#comment-2780 Gerald Giam Sat, 11 Jul 2009 07:52:27 +0000 http://geraldgiam.sg/?p=796#comment-2780 Is the report even made public? Or at least to the 9,000 investors? All this smells of a PR exercise. Is the report even made public? Or at least to the 9,000 investors? All this smells of a PR exercise.

]]> By: Kenny Cee http://geraldgiam.sg/2009/07/st-forum-mas-should-have-been-more-objective/comment-page-1/#comment-2779 Kenny Cee Sat, 11 Jul 2009 03:49:08 +0000 http://geraldgiam.sg/?p=796#comment-2779 You know what really disturbs me is that different institutions were penalised to varying extents, without much detail as to what went wrong in each of them and how they were allowed to happen. For example, yesterday's ST reported that 49 of DBS sales staff had not received the requisite training for selling of structured deposits. That to me, sounds very serious if one is providing financial advice under license. I wonder what greater transgressions were committed by Hong Leong Finance, which has been banned for 2 yrs as opposed to DBS' 6 months. MAS should also be transparent about the internal control failures which have been reported by not detailed, so that the public has confidence that the different players in the market are being treated fairly. And what about individual accountability for those failures? No names of any top management have been reported as being sanctioned. Have any been found complicit, or negligent? What will the penalties be against them? You know what really disturbs me is that different institutions were penalised to varying extents, without much detail as to what went wrong in each of them and how they were allowed to happen.

For example, yesterday’s ST reported that 49 of DBS sales staff had not received the requisite training for selling of structured deposits. That to me, sounds very serious if one is providing financial advice under license. I wonder what greater transgressions were committed by Hong Leong Finance, which has been banned for 2 yrs as opposed to DBS’ 6 months.

MAS should also be transparent about the internal control failures which have been reported by not detailed, so that the public has confidence that the different players in the market are being treated fairly.

And what about individual accountability for those failures? No names of any top management have been reported as being sanctioned. Have any been found complicit, or negligent? What will the penalties be against them?

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