The Monetary Authority of Singapore (MAS) has, for the first time, imposed bans on the sale of ALL structured notes by 10 financial institutions (FIs). These FIs had distributed toxic structured notes linked to the collapsed US financial institution Lehman Brothers. These FIs will be banned until MAS is satisfied with the findings of its investigation into the sale of the failed Lehman structured product.
The 10 FIs are ABN Amro Bank, CIMB-GK Securities, DBS Bank, DMG and Partners Securities, Hong Leong Finance, Kim Eng Securities, Maybank, OCBC Securities, Philip Securities and UOB Kay Hian.
Singapore bars 10 firms from selling structured notes [via]
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