Asian growth may mask operational risk problems

The dangers of rapid growth


In July 2009, the Monetary Authority of Singapore (MAS) banned 10 financial institutions from selling structured notes, after an investigation into the sale and marketing of notes arranged by Lehman Brothers revealed shortfalls in the banks’ product approval, sales and marketing processes. Since then, three of the accused banks – DBS bank, Malayan Banking (Singapore branch) and Royal Bank of Scotland (RBS) – have been allowed to re-enter the business in Singapore after taking measures to rectify

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