Hi Mr. Tan
I have placed some fixed deposits in Hong Leong Finance and UOB bank. If MAS were to sue these advisers for neglience, will my FDs go bust like what my Minibonds did?
Do you think I should withdraw the amounts before maturity as I understand that FDs are not capital guaranteed if the bank or finance company goes bust?
REPLY
The fixed deposits should be safe. Read para 2 of this webpage
http://www.mas.gov.sg/news_room/letters_to_editors/2008/Response_to_do_more_to_protect_policy_holders.html
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