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Jun 2, 2010
How effective is MAS alert list?
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I READ last week that the Profitable Group was placed on the Monetary Authority of Singapore's (MAS) Investor Alert List recently.
This was after complaints by individuals that the company had failed to deliver on promises of high returns.
Yet, to this day, StarHub Cable Vision (SCV) continues to show advertisements of the company over its cable TV channels.
It seems that if you missed the newspaper reports and do not look at the list habitually, you would not know that this company is on the list at all.
Then, how effective is the alert list? Does MAS think that every individual would look through its list before buying any investment product?
I suggest that MAS ban all companies on the list from advertising as well as taking in any new deposits.
This will spur the legitimate companies to prove to the MAS they are proper as soon as possible.
In addition, it will prevent more members of the public from putting their money in the wrong hands.
Chia Kok Chin
How effective is MAS alert list?
<!-- by line --><!-- end by line -->
<!-- end left side bar --><!-- story content : start -->
I READ last week that the Profitable Group was placed on the Monetary Authority of Singapore's (MAS) Investor Alert List recently.
This was after complaints by individuals that the company had failed to deliver on promises of high returns.
Yet, to this day, StarHub Cable Vision (SCV) continues to show advertisements of the company over its cable TV channels.
It seems that if you missed the newspaper reports and do not look at the list habitually, you would not know that this company is on the list at all.
Then, how effective is the alert list? Does MAS think that every individual would look through its list before buying any investment product?
I suggest that MAS ban all companies on the list from advertising as well as taking in any new deposits.
This will spur the legitimate companies to prove to the MAS they are proper as soon as possible.
In addition, it will prevent more members of the public from putting their money in the wrong hands.
Chia Kok Chin
