Reuters, 17 Oct 2008, Jennifer Tan
SINGAPORE, Oct 17 (Reuters) - The Monetary Authority of Singapore (MAS) said on Friday it is investigating allegations that financial institutions mis-sold risky derivatives linked to collapsed U.S. bank Lehman Brothers to retail investors.
"MAS confirms that we have been conducting formal inquiries into allegations of breaches of the law, inadequate internal controls by the financial institutions or poor sales practices by their respresentatives," its managing director Heng Swee Kiat told a news conference.
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