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Singapore bars 10 firms from sale of structured products-TV

Tue Jul 7, 2009 5:22am EDT

SINGAPORE, July 7 (Reuters) - Singapore's central bank has banned 10 financial institutions from selling structured investment products for up to two years, according to a report by state TV.

The news comes nine months after the central bank announced that it will probe financial institutions for allegedly "mis-selling" risky derivatives linked to collapsed U.S. bank Lehman Bank to retail investors in Singapore. (Reporting by Saeed Azhar)



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