Insurance agents told: Don't poach
By Lorna Tan, Finance Correspondent

INSURANCE agents were reminded yesterday that poaching customers - or agents from other firms - will not be condoned as it goes against industry best practices.

The warning from the Insurance and Financial Practitioners Association of Singapore (Ifpas) came in response to talk that some agents were seen poaching customers at AIA's customer service centre at Finlayson Green last Friday.

Ifpas president MP Sellvem said: 'Attempts by agents to solicit clients by giving wrong reasons and playing up on poor customer sentiments would not be tolerated.'

Taxpayers tell CNN: Why should we foot the bill?

'HELL no!'

The majority of United States taxpayers interviewed by CNN gave an angry thumbs down to the US government's US$700 billion (S$1 trillion) financial bailout plan, saying they were fed up with having to foot the bill for irresponsible lenders and borrowers.

'It's our money! Let these companies die,' Claudio from Connecticut wrote in to say.

Hefty penalties for naked short selling
More disclosure to be made to maintain orderly market
By Lee Su Shyan

THE Singapore Exchange (SGX) has moved to put the brakes on short-selling shares although it has stopped short of imposing the draconian bans seen in Britain, the United States and Australia.

Short-sellers aim to capitalise on falling prices with investors borrowing shares in the hope of buying them back at a lower price.

The SGX announced last night that it will disclose more details about shares that have been sold short without the same number having been borrowed in advance - known as naked short-selling.

For more The Straits Times stories, click here.