DBS Bank agrees compensation for Hong Kong Lehman notes

Mark Sands
01 Aug 2010

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SINGAPORE – Following an investigation by the Hong Kong Securities and Futures Commission (SFC), DBS Bank will pay HK$651 million to customers who were mis-sold products linked to Lehman Brothers.

The SFC accused DBS of selling Lehman Brothers “constellation notes”, products directly related to Lehman. These, according to a statement by the regulator, “may not have been suitable for low- to medium-risk customers whose risk profile favoured the conservative end of the investment spectrum”. The

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