Visitors to Tan Kin Lian's blog

I like to ask the regular visitors to my blog to register your e-mail address in the Google Group shown at the top of the right panel. This will allow me to send an e-mail to notify you of matters that may be of interest to you.

Bought credit linked note from stockbroker

X approached me for advice. He bought the Minibond from his broker (i.e. securities firm). The broker telephoned him and advised me to buy the product. The broker gave him the wrong information about the product, but admitted that this was the same information provided by Lehman Brothers in the briefing.

X wanted to join a class action, but there were insufficient number of investors in the same category (i.e. approached by broker through the telephone) to form a class.  X decided that his best option was to file a complaint with FIDREC. He felt strongly that he had been misled, but he was not confident of presenting his case clearly.

It is important that X made his point of mis-selling clearly in the complaint filed with FIDREC. I advised X to approach Adrian Tan (atans1@hotmail.com) and seek his assistance to prepare the complaint. X should pay a fee for the time taken by Adrian to study and write the complaint, but this will be lower than the fee charged by a lawyer. Furthermore, Adrian Tan is more familiar with this matter. X was happy to take my suggestion.

I wish X all the best in lodging his complaint.

Invest in Government Securities

Dear Mr. Tan,

I have written a series of posts this time on Singapore Government Securities i.e. SGS T-Bills and Bonds. Some of the topics I covered includes on an introduction to SGS, how to buy SGS and the advantages of SGS over fixed deposits. If you think it's useful for your readers, I would be glad if you can post on it on your blog. The link is http://www.moneytalk.sg/search/label/SGS. Thanks.

See the contact person; read my blog

Dear Mr. Tan,

I have just received a rejection letter from the financial institution. What do I do? Who should I approach?

REPLY

Please read my blog. I do not have the time to give individual advice. I cannot also find the time to search for information for you. You should contact the contact person for the product that you have bought (listed in my blog) and ask for his or her advice on the actions that they are planning.

Register for class action now

Dear Mr. Tan,

I have registered my complaint with FIDREC. Can I wait for their reply, before deciding on the class action? When is the closing date?

REPLY

You must register for the class action now. The lawyer will accept your registration on a tentative basis, and allow you to withdraw if you accept an offer of settlement through FIDREC.  You should also learn about the advantages and risk of the class action now. 

If you wait for FIDREC's reply, it may be too late for you to join the class action. It is all too late for the lawyer to accept you at that time.

To register for the class action, you must see the contact person for the product that you have invested. This is shown in my blog. Search for it there. Please do not expect me to handle your individual request or to give individual advice, as I do not have the time to handle so many people.

Minibond Seminar - February 2009

The Minibond Victims Group will be organizing a seminar before the end of February under the theme "Rejected Or Partial Compensation: What Do You Do Next?"

We are expecting a Senior Counsel to be present during the seminar. Further details of the date, venue etc will be posted in Mr. Tan's blog as soon as possible. We will also be sending email updates to all those who have registered with us .

Minibond Victims Group

Standard Life to repay clients

Standard Life is to reimburse 97,000 customers who lost 5% of their money when the value of its Pension Sterling Fund, worth £2.1bn, was cut last month. Story.