By Francis Chan

MORE than 100 investors in ill-fated Lehman-linked structured products have filed official complaints with the the Financial Industry Disputes Resolution Centre (Fidrec), the centre said yesterday.

These include 60 complaints related to Lehman Minibonds, 22 on DBS High Notes5, 14 on Merrill Lynch Jubilee Series 3 Linkearner Notes and 10 on Morgan Stanley Pinnacle Series9 and 10 Notes.

To ensure all complaints are dealt with effectively, Fidrec has increased its resources and expanded its facilities.

It has, for instance, set up a Structured Products Clarification and Reference Board to provide clarification on any matters referred to its 30 adjudicators.

The board will comprise Fidrec's chairman, retired Supreme Court Judge Goh Joon Seng, and its chief executive, Mr Ng Wee Jin.

In addition to deploying more staff and adjudicators, Fidrec has also set up a new centre called the Fidrec Complaints Centre (FCC) at Robinson Road, to supplement its existing premises on the 13th floor of HBRobinson building.

The FCC is dedicated to the handling of complaints relating to the affected structured products, and is equipped with four meeting rooms, five reception counters and 10 e-filing terminals.

The e-filing terminals are part of Fidrec's latest initiative - Fidrec e-Complaints Filing System, or eCFS.

With the eCFS, investors can have the option of lodging their complaints online via www.fidrec.com.sg, at the FCC, or wherever is convenient.

'The slew of new initiatives will enable us to handle any increase in the number of cases lodged at Fidrec in relation to the affected structured products,' said Mr Ng.

'We are confident Fidrec will be able to provide an affordable dispute resolution scheme to assist consumers and financial institutions in resolving their disputes fairly and amicably.'

This article was first published in The Straits Times on December 23, 2008.