Business @ AsiaOne

DBS launches investigation of Lehman-related products

Bank will compensate customers if they produce evidence of mis-selling. -AsiaOne

Tue, Oct 14, 2008
AsiaOne

DBS has said it would investigate products affected by the collapse of Lehman Brothers, and compensate clients if they can produce evidence that there was mis-selling.

In its statement, DBS said it would work with the customers on compensation on a case-by-case basis.

Customers who bought its High Notes 5 product in Singapore and Constellation Structured Retail Notes in Hong Kong will know the final valuation of the products by the end of the month. DBS has warned that some customers could lose their entire investment.

More than 1,000 people who invested in structured products like Lehman Minibonds and DBS High Notes, gathered for a protest at the Speakers' Corner on Saturday evening.

 
 
 
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