Thanh Nien Daily, 21 Jul 2009
The Monetary Authority of Singapore (MAS) rejected criticism that it didn’t take sufficient action against financial institutions that sold structured products tied to now bankrupt-Lehman Brothers Holdings Inc.
The MAS, as the central bank is known, said its decision to publish the results of an investigation into the sales and to ban 10 financial institutions in Singapore from selling structured notes was “unprecedented,” Lim Hng Kiang, the island’s trade minister and deputy chairman for MAS, said in parliament Monday.
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MAS Reject Criticisms On Its Ban Decision
