The Standard, 17 Nov 2008, Bloomberg
Singapore's central bank said it has started investigations into complaints by retail investors who said they were misled into buying structured products linked to Lehman Brothers Holdings.
The Monetary Authority of Singapore, as the central bank is known, may require banks to sell products that better match investors' needs and have clearer risk labels linked to the investments, Finance Minister Tharman Shanmugaratnam said.
"Financial institutions and their representatives must have a reasonable basis for recommending investors'' specific investment products, he said. "What's far more useful is to ensure good disclosure.''
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