MAS to tighten advertising rules for investment products
Posted: 16 November 2012 0007 hrs

SINGAPORE: The Monetary Authority of Singapore (MAS) is looking to tighten advertising rules for investment products.

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said this will minimise the scope of advertising to mislead consumers.

MAS is now following up with relevant agencies on the rules.

In the wake of a crackdown last month on gold-trading business, Genneva, several MPs had asked if the government is taking more proactive measures to enhance consumer awareness.

Mr Tharman said the MAS Investor Alert List (IAL), which contains a list of companies not licensed by MAS, is publicly available online and updated regularly.

There are currently five companies operating buy-back schemes listed on the IAL.

Mr Tharman said: "Some companies are currently under investigation by the CAD (Commercial Affairs Department).

"The exact number of affected investors is not known at this point as investigations are still ongoing. In the meantime, the public can refer to the CAD website for updates on the investigation.

"MAS will continue its efforts in educating Singaporeans on the pitfalls of dealing with unregulated entities and the risks of unregulated schemes such as gold buy-back schemes."

- CNA/lp

http://www.channelnewsasia.com/stories/sin...1237486/1/.html

.....inb4 WE BUYERS NOT INVESTOR!!! DAMN BNM.. oops its Singapore larrr... lol
Meanwhile...
http://www.sinchew.com.my/node/268451?tid=2
this chinese news dated yesterday, about Singapore's DPM updating bout Genneva Singapore case.
sounds negative ... one of the lines..

此外，消費者也要考量，一旦相關公司出了狀況，他們是否得到任何保障或有沒有索賠的權利。Investors inquires about their rights on any compensation on their money losses if investment companies got into trouble/problem/cases.
尚達曼說：“人們因為加入詐騙或無法持久的計劃而損失了金錢，是很不幸的事。如果每個消費者都採取這些步驟，損失金錢的個案會大大減少。” DPM:"Its such unfortunate for people to get involved in scam or a scheme that cannot sustained. If every consumer took the appropriate steps (the step that he mentioned earlier in that article telling public to check the MAS list of companies under investigation before they invest) then the losses can be greatly reduce. duh?

Do 1GennevaSingapore screw their MAS & CAD kaokao and vow not to vote PAP?