WHAT IS EXPECTED OF BANKS

'Where a customer has been mis-sold the product or where the product was clearly inappropriate to his circumstances, the financial institution should reach a fair settlement in full or in part. This has to be assessed on a case-by-case basis.'

MAS managing director Heng Swee Keat in an e-mail reply to The Straits Times

A GOOD MOVE, BUT WILL IT BE ENOUGH?

'This group obviously needs more help...as far as I know, during last Saturday's rally, this was the group of people that came shouting or crying. I do not think it's the right approach to deal with this on a case-by-case basis... But I like what MAS is saying that they are asking the banks and FIs to do the right thing.'

Mr Leong Sze Hian, president of the Society of Financial Service Professionals

'I think it is a good sign that the MAS is finally putting more emphasis on this particular group of investors, but I am 54 now and still working - so it is a grey area for me. Let's hope they will examine each case by its merit.'

Mr L. Tan a DBS High Notes 5 investor. Yesterday, he lodged a case of mis-selling to DBS Bank

'If you look at the words ?do the right thing', I actually put in my blog to appeal to the MAS to do exactly that. Now that we all know that this issue is so serious - something we didn't know before - we should now come in and say: ?Hey, we made a mistake, let's all come together to solve this.'...I think this is a good step and of course we should help the vulnerable [investors] first. But the other people are also equally misled... although they too should have been more careful - so it's a matter of the extent of compensation.'

Mr Tan Kin Lian, 60, the former chief executive officer of insurer NTUC Income