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This section contains financial news previously posted on our "Latest News" page. Read and learn more on what you may have missed out on.
26 July 2004 - MAS publishes Investor Alert List
The Monetary Authority of Singapore (MAS) today announced the publication of an Investor Alert List (IAL). The Investor Alert List is a list of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorised by MAS. It includes those operating in Singapore as well as those based overseas. However, you should bear in mind that this list is not exhaustive. You may wish to check the Financial Institutions Directory found at the MAS website to determine if the person you are dealing with is in fact regulated by MAS.
15 July 2004 - Media release by the Life Insurance Association, Singapore (LIA) (PDF, 161KB)
LIA has assured the public that none of its member companies employ "opt-out" marketing methods in their sale of life insurance products. LIA has also advised consumers that it is in their best interests to fully understand their financial needs and any financial product being sold to them before they agree to purchase a product.
Read the media release here (PDF, 161KB).
17 February 2004 - Release of Annual Report 2003 by the Consumer Mediation Unit (CMU) (PDF, 531KB)
CMU was set up on 2 January 2003 to provide bank customers with an independent, impartial and structured process to help resolve their disputes with their banks. In their first year of operations, they handled a total of 380 cases with majority of the cases being resolved as at 31 December 2003. More details of CMU's work can be found in their annual report.
6 February 2004 - Reply to Parliamentary Question (PQ) on Credit Card Regulations
In his reply to a PQ by Dr Amy Khor, MP for Hong Kah GRC, DPM Lee explained the rationale behind the new credit card regulations. He highlighted the fact that there is no relaxation in the availability of credit to individuals and that the new regulations preserve the fundamental objective of discouraging Singaporeans from spending beyond their means.
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