MAS has the power to investigate and bring a court action

Posting #68 in
http://theonlinecitizen.com/2008/11/1017-hav-signed-fourth-petition-to-mas/#comment-29561

Statement by Mr. Lee Hsien Loong in 2006

25. Market discipline also requires an effective enforcement regime. To preserve investor confidence, penalties for transgressions must be swift and appropriate. MAS now has the power to investigate and bring a court action for market misconduct under the new civil penalty regime. This will complement the existing criminal penalty regime administered by CAD.”


In the first Petition signed by 983 investors, there was a call for MAS or CAD to investigate into any wrong doing by the financial institutions that created or marketed the product. So far, there is no news on this matter.

I hope that they will "investigate and bring a court action for market misconduct".