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ABS to private banks: Be upfront about charges in bond sales

Several bonds have defaulted, and investors are estimated to have lost about S$1.1b, or 0.74% of Singdollar bonds

Tan Su Shan, who co-chairs the Private Banking Industry Group, says the recent move to enhance disclosure standards are welcome.


THE Association of Banks in Singapore (ABS) has reminded private banks to disclose all fees, charges and rebates in bond sales, following an outcry by investors who lost money in recent defaults.

Private banks have been under a cloud over their selling tactics, with...

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