atans1

Three cheers for CJ

In Banks, Financial competency on 19/08/2012 at 5:57 am

Chief Justice Chan Sek Keong said in a written judgment: “In the light of the many allegations made against many financial institutions for ‘mis-selling’ complex financial products to linguistically and financially illiterate and unwary customers during the financial crisis in 2008, it may be desirable for the courts to reconsider whether financial institutions should be accorded full immunity for such ‘misconduct’ by relying on non-reliance clauses which unsophisticated customers might have been induced or persuaded to sign without truly understanding their potential legal effect on any form of misconduct or negligence on the part of the relevant officers in relation to the investment recommended by them.”

http://www.todayonline.com/Singapore/EDC120817-0000042/Non-reliance-clauses–Time-to-reconsider?

Related posts:

http://atans1.wordpress.com/2012/08/17/hong-leong-finance-sues-morgan-stanley-for-deception-selling-investments-designed-to-fail/

http://atans1.wordpress.com/2011/04/01/helping-retail-investors-the-hk-way-and-the-spore-way/

http://atans1.wordpress.com/2010/08/06/what-abt-high-notes-sm-goh/

http://atans1.wordpress.com/2011/11/04/sporeans-get-justice-in-us/

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