Failure to observe the risk assessment

Dear Mr. Tan,

Under the Financial Adviser Act, financial advisers are required to collect information about a client's financial objective, risk tolerance, employment status and financial situation, among othe things, before they can make a recommendation on an investment product.

In my case, I bought the Minibond product in Feb 07. My intention was to open a fixed deposit account. After recommendation and confirmation to buy the product, the relationship manager then collected the infomations as stated in the Act.

Please let the others victims who also bought from the financial institution, especially aunties and uncles, know whether they were in the same scenerio as me.