THE Monetary Authority of Singapore (MAS) may require financial services companies to sell products that better match investors' needs and include clearer risk labels linked to the investments, Finance Minister Tharman Shanmugaratnam said in Parliament on Monday.
'If an investor has been sold a product that's clearly unsuitable, if there are clear-cut cases of a mismatch, then the financial institution will ensure the investor gets proper restitution,' he said. 'That's the way we ensure there's trust in the system.'
Mr Tharman was replying to questions on the MAS probe into complaints by retail investors who said they were misled into buying structured products linked to the now-bankrupt Lehman Brothers Holdings Inc.
