My case has been on-going for 18 months and yet it is nstill ot
resolved.
My securities firm sold my shares wrongly 18 months ago and I
suffered huge losses. I wrote in to them to appeal to return me the
wrongly sold shares, however they rejected my appeal.
Subsequently, I approached FiDrec for help. FiDrec took more
than 6 months to hear my case under their adjudication process. The
adjudicator dismissed my case, even though there are sufficient
evidence that the company sold my shares wrongly. I was extremely
disappointed, but I perservered and wrote in to Mr Prime Minister
and MAS for help.
MAS claimed that they are not able to help, which I simply
cannot understand why. If they can't, who can??
PM's staff provided me alternatives which could not work at all,
either the legal institution do not handle disputes regarding
stocks or the mediation fees is exhorbitant. He also suggested that
I appealed to the CEO of FiDrec, of which FiDrec's answer was that
the adjudicator's decision was final, so there was nothing they can
do about my case. Subsquently, I wrote back to Mr Prime Minister
because I really have no solution and noone else to turn to.
However, it has been 3 months since I wrote to him and no
reply so far.
My case has dragged for 18 months and it was a tedious and long
appeal process. However, I am not giving up hope. I really hope
through this channel, I can get some response for my case. It was
handled unjustifically and yet noone is able to help. I cannot
believe this is Singapore and the system seems to just close the
door on you. I feel so helpless even though I am a pure Singaporean
and the Singapore Government has always claimed that they do their
best for their citizens, but in my case, I do not get such
treatment at all. What I get is no-reply to my emails
and behind shut doors, and no solution and punishment to the
securities firm for their wrongful deed.
Your case was official closed when the adjudicator gave his
verdict, but your judgement is that the securities firm is guilty
of wrongful deed. Who do we believe, your honour?
Before you go around appealing to everybody, do you have a
case?
What is this selling wrongly? how did it happened? I know it is
wrong to sell shares when prices are low, 18 months ago, STI was
around 1700. One should be selling instead of buying, but at
that time, did you see a solution to the financial crisis in the
tunnel? was selling your decision or a mistake of your
securities firm. If it is yours, it is your wrong judgement, though
hard to swallow. If the securities firm acted without your approval
resulted in your loss, it is criminal breach of trust, if you
have proof beyond doubt, then you can sue them till
cow comes home.
if you want help, you got to come up with facts and truth. You
are in the right place if you want to appeal to the anti government
sentiment, you will get a lot of people who pity you and spit on
the government, but that won't bring back your money!
Dont' bother with the government, they are not paid their
exorbitant salaries to look after your wrong investment,
unless you are one of those ah soh, ah peh who got conned by
the banks into buying shares of US companies that collapsed.
Anyway, you make money on stock you also don't pay tax.
what is pure singaporean?
