Reuters, 7 Jul 2009, Saeed Azhar and Kevin Lim
SINGAPORE, July 7 (Reuters) - Singapore's central bank banned 10 financial institutions on Tuesday from selling structured notes, saying they sold investment products linked to Lehman Brothers without adequately highlighting the risks.
Thousands of Singapore investors lost money last year after they bought risky derivatives linked to the collapsed U.S. investment bank that had been marketed as relatively safe alternatives to fixed deposits, sparking several protests in the tightly controlled city-state.
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Related:
Singapore punishes financial institutions for selling Lehman notes - Earth Times
Singapore bars 10 firms from sale of structured products-TV - Reuters India
Singapore Bans Sale of Structured Notes by Some Banks - Bloomberg.com
S'pore bans 10 brokers from structured notes sales - BusinessWeek
Singapore in 'mis-selling' ban - Financial Times
Investor protection, Singapore style - Reuters Blog
