Singapore banks to compensate 'vulnerable' investors sold inappropriate products

Singapore-based banks DBS, Hong Leong Finance and Maybank have stated that they are in agreement with the Monetary Authority of Singapore (MAS) and are prepared to compensate vulnerable investors who lost money buying Lehman Minibonds and DBS High Notes 5. The MAS had previously urged financial institutions to give priority to vulnerable customers and to take full responsibility in cases where the product was clearly inappropriate given the customer's profile and circumstances. Meanwhile, the