Banks say they will discipline staff who mis-sell to customers

DBS, OCBC and UOB are unison in their positions that any acts of mis-selling unsuitable products to customers will not be tolerated. PHOTO: LIANHE ZAOBAO
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If a bank employee tries to sell you an investment product without first checking on your needs, risk appetite and financial state, just say no.

Employees who push financial products without knowing a person’s background are breaking banking rules, and this could result in customers putting money in unsuitable investments that could cause them more harm than good.

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