The Securities Investors Association of Singapore (Sias) said that it was opening its doors to investors who need advice on their next course of action as the resolution process begins to come to a close.

'Sias will be prepared to meet with investors who feel they require some guidance on the various alternatives available to them in the event they do not wish to accept the offer from the financial institutions,' said Sias president David Gerald.

He says Sias will also organise group advisory sessions and make available its legal advisers to field questions from investors, if there is sufficient interest.

According to Sias, many investors will now be faced with the difficult decision of whether to accept the financial institutions' (FIs') decisions on their complaints or refer their case to the Financial Industry Disputes Resolution Centre (Fidrec) or the courts.

'For investors who have been offered settlements by the FIs, Sias would advise these investors to consider...carefully before rejecting the offer,' said Mr Gerald.

He says investors must be aware that once the complaint is filed with Fidrec or the courts, then the FI is entitled to withdraw its offer.

'Should an investor not succeed in his or her complaint at Fidrec or the courts, he or she will not be able to approach the FI to reinstate its earlier settlement offer,' he said.

And before the investor rejects the FI's offer, Sias says they need to 'be sure that there are indeed merits for pursuing the matter either with Firec or in the courts'.

Mr Gerald also warned that decisions by Fidrec or the courts may not necessarily offer investors a higher value in compensation.