NEWS

FINANCIAL SERVICES | Jerrie Abella, Singapore
Published: 11 Feb 10
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Singapore lifts ban on sales of structured notes by DBS, Maybank and RBS

Singapore lifts ban on sales of structured notes by DBS, Maybank and RBS

Singapore's central bank said on Thursday it will lift the ban on sales of structured notes for DBS Bank, Malayan Banking Bhd and Royal Bank of Scotland.

According to a Reuters report, this was after the three banks have met its requirements.

The Monetary Authority of Singapore will lift the ban from Friday after two independent accounting firms - KPMG and PricewaterhouseCoopers - said they were satisfied with the banks' plans and their implementation, it said in a statement.

"The three financial institutions have publicly pledged their commitment to effectively implement various measures on an ongoing basis in order to deliver fair dealing outcomes to their customers," it said.

View full report in Reuters.

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