迷你债券事项重要通告

有位银行公关经理打电话联络了陈钦亮先生。他表示他愿意走出来供证，签署声明承认他在对这一些信贷产品认知不够的情况之下，给于银行客户错误的资讯。他会联系其他的银行公关经理，设法说服他们勇敢的走出来作出同样的声明。

他对陈钦亮先生说，他所服务的银行对他施加压力，警告他如果他承认给于银行客户的资讯是错误的话，他将会对客户的赔偿负起全部责任！他说，当他把这一些信贷金融产品售卖给客户的时候，他对这一些产品所承受的真正风险一无所知。这是因为这一些产品的结构非常复杂而银行给于公关经理的训练非常差。

陈钦亮先生对这一位公关经理说，银行没有权力对他的无心之过要他负起赔偿的责任。尤其是当银行对于这类产品给以许多其他银行公共经理的训练都不足的情况之下，银行更没有理由要求公关经理负全责。银行这时要公关经理昧着良心撒谎来掩饰这一些错误是完全不对的。

陈钦亮先生会为这一些银行公关经理安排律师给于他们法律咨询和协助，并且为他们草拟正式的宣誓书，详细的记录他们给以银行客户对于这一些产品的真正陈述和保证。

陈钦亮先生和我本人希望其他的银行公关经理能拿出正义、诚实、勇气和良知，走出来作同样的供证。我们希望他们能拿出勇气、诚实和良知，为这件事做出公平、正义和正确的事情。如果你愿意做出这样的供证，你可以电邮陈钦亮先生，kinlian@gmail.com. 陈钦亮先生会设法说服一大组的银行公关经理为此事做出类似的供证宣誓，所以你将不会是唯一供证宣誓的人。

墮馬多夫騙案 滙控或損77.5億

(星島)12月16日 星期二 05:30

(綜合報道)

(星島日報 報道)美國 納斯達克交易所前主席馬多夫布下金字塔層壓式騙局詐騙投資者達五百億美元 一案，受害者名單愈揭愈長，幾乎覆蓋全球，歐、亞多家頂級金融機構均告損手成為「苦主」，其中以市值計算屬全球第三大的滙控周一晚發表聲明，承認在馬多夫騙局中涉及潛在風險約十億美元（七十七億五千萬港元）。迄今所知，西班牙 桑坦德 銀行的損失最慘重，可能被騙二十三億歐羅 （二百四十二億港元）。

　　本報國際組

　　滙控表示曾向少數機構客戶提供融資投資於馬多夫（Bernard Madoff）的各項基金，涉及潛在風險在十億美元左右，此外在其託管業務中，也有客戶投資於馬多夫，但滙控不認為這些託管安排，會成為集團的風險來源。

　　滙控客戶借貸投「黑洞」

　　英國 《金融時報》周一引述消息人士報道，滙控大部分潛在風險來自向投資於馬多夫的機構客戶所提供的貸款，這些客戶主要是「對沖基金 中的基金」；而滙控的直接風險相信是給客戶的十億美元貸款，這些客戶另外投資了約五億美元在馬多夫的投資計畫上。按照這類交易的通常條款，如果美國政府向馬多夫追回被騙金額的話，滙控會優先獲得償還資金。

　　騙局的頭號受害者該算是西班牙的桑坦德銀行（Banco Santander），這家歐洲第二大銀行旗下的投資基金Optimal共投資三十一億美元在馬多夫的避險基金，銀行本身亦投資了一千七百萬歐羅在馬多夫產品。該銀行股價周四早曾跌百分之四點九。法國 國衞保險（AXA）表示估計損失低於一億歐羅。蘇格蘭 皇家銀行則表示他們的潛在損失約為六億美元。英國投資基金Bramdean Alternatives在馬多夫投資了約三千一百萬美元，該公司表示，馬多夫事件令人質疑美國金融監管體系的「根本問題」。

　　法銀上當 共被騙101億

　　較早時，法國巴黎 銀行承認有份投資入馬多夫的基金，估計損失了三億五千萬歐羅。瑞士 多個金融機構也聲稱損失了五十億瑞士法郎。法國的銀行估計損失總值逾十三億美元（約一百零一億港元）。

　　在日本 金融界具有領導地位的野村證券周一早上也承認與馬多夫有交易，估計損失達三億○三百萬美元。南韓 一家保險公司和六家資產管理公司在馬多夫共投資了九千五百一十萬美元。

　　已屆七十歲高齡的馬多夫上周四在美國被捕，被控以層壓式手法秘密經營對沖基金，多年來替大量客戶進行投資，估計總共損失了五百億美元。在其騙局中，早期加入的投資者，獲保證享有高回報；但實際上，他是利用後期加入的投資者所投入的資金，去支付這些回報。

Minimum Wage & Democracy

The following are two responses I have given to one forumer in deliberating on the Minimum Wage issue which I feel meaningful enough to be put on my blog.


Dear pfingo,

I understand where you are coming from and I have already qualify, talking about minimum wage will not get me votes in Singapore!

But, that's the catch. You are acting like PAP who digitized human beings. Never mind about these people if they are the minority?

Minimum wage may not affect many people, only 1% maybe? But it is significant for a country developing into a First World country. The intrinsic values that we past on as a nation to many children of future generation, is tremendous. It is a belief of human decency. A belief based on EQUALITY and FAIRNESS to everyone contributing to the whole country's development, be it Singaporeans or foreigners.

We are just too used to the PAP talk of dollar and cents but not the SENSE of the Nation. It may look insignificant to many people here, but it means a lot for a Nation to set its footing RIGHT on basic respect to human decency.

The Americans always feel proud of their country, most of the time, due to the CORE VALUES that their forefathers have set in their constitution. Do our country, no matter how small it is, have any CORE VALUES to start with?

Surprisingly, yes, it's all there but the fact is, PAP has been drifting away from the very CORE VALUES set in our constitution and National Pledge.

Minimum Wage is not just about dollar and cents, not only about how many people will benefit. But it is about setting the basic fundamental core values for our nation in rejecting exploitation of honest, hard working people on this land.

Goh Meng Seng

Dear pfingo,

I find your above statements intriguing.

If the market is truly efficient and there are true balance of powers within the system, there will still be rich and poor. All is relative. True about that.

However, there is one absolute thing: whether there are exploitation by the rich on the poor that will make them richer while the poor more poor.

It is a well known fact that PERFECT Free Market only exists in text books because although the principle assumptions of Free Market is very simple, yet it is very difficult to have such assumptions implemented in real world.

You may think that I am trying to close the income gap "artificially", but this itself is RELATIVE. If the real world is left to work on its own, what will happen is the polars of the rich and the poor will GROW WIDER. It grew wider not because of "EXCEPTIONAL DIFFERENCES" between the skill factors, intelligence, intrinsic biological merits of human beings but merely due to inherited or implied "social influence and powers" that comes along with wealth, status and network connections.

Just state one simple example, one can be a mediocre idiot that is born into a wealthy family. All it needs is for the man to inherit properties with regular rental income to maintain a lavish lifestyle. The man could use his network built by the family to make money much easier than anyone else.

There is no such thing as "equal opportunities" for all because opportunities vary according to different social class status. It would mean that the rich will get richer while it will be more difficult for those at the bottom of the social class to upgrade themselves.

Education used to be a means of providing equal opportunities, but I think the present system does not provide that any more. Well, I shall leave this topic for another day.

What I aim to do is not about closing income gaps. Mistake me not, that's not my intention at all. As long as men and women are born differently, there will bound to be difference in abilities and income disparity.

However, the basic fundamental is that the society or econmic system cannot be left alone in the guise of "Free Market" when we know REAL Free Market hardly exists at all. because asymmetric information, influence, networking etc etc will deter the development of the TEXT BOOK Free Market.

My baseline is simple, the system cannot be skewed towards in such a direction that when the rich get richer, while the poor cannot earn enough to lead a decent life. I have no problem of the rich getting richer as long as the vulnerable group of people, the lowest percentile of the social-economic segment, is not pushed towards poverty with no jobs that could offer them a "living wage" and savings for retirement. This "living wage" is relative in different societies. For example, in countries with big agriculture sector and land, the living wage can be very small because they could basically live off their land. But in a matured urban society like Singapore, this is not possible and naturally, the living wage will be higher than those other countries with big agricultural land.

Interesting enough that you have made your last statement that Economic growth under capitalism has led to democratisation. This may not be always true you.

Singapore is a prime example.

In fact, I think there is a potential danger for ultra-capitalism to lead the whole political spectrum into a vicious cycle of power and influences being monopolized by the few wealthy families who could afford to invest in the political field. Ironically, we will be going round in circles and what we will get is pseudo-democracy in the end, which is in fact a monopoly of power by the few in the guise of democratic process.

In fact, the populace has been brain washed into thinking along that line of only ELITES should be acceptable to become MPs or voted into the democratic power centre--parliament or Congress. Elitism should not be mixed by meritocracy. Meritocracy in politics is about those who will represent the different classes of people best, should be elected into a real democratic power house. But in Singapore's context, we equate a paper qualification with the ability as a politician!

Just ask yourself frankly, would you accept a non-graduate to be your MP? Why not? We have always been subtlely brain washed to believe that only those with at least a degree would be "talented" as parliamentarians. If this is what capitalist democratic system is all about, then it is not going to provide a really representative democratic system.

In a very crude way, I would say that for every social class in the society, there should be adequate representation in the parliament for their interests. Thus, for the high percentage of non-graduates, we should have people who could empathize with their aspirations, worries, problems etc etc.

However, with the "capitalized democracy", we end up is a bunch of "political elites" who could be totally lost touch with the populace that they are supposed to represent! Is this real deomcracy we want from the capitalized system?

Goh Meng Seng

内疚

主题:内疚
作者:cheahsps 1:44pm 15/12/2008

内疚

如果有人问我，什么最痛苦，我会不暇思索地告诉他，是内疚。
外伤，经过医治就好，感情的创伤，一段长时间，就会淡化。惟有内疚，如影随形，甩之不去。
我有两则深感内疚的事，迄今午夜梦回时仍然痴痴地缠。

一则，在江沙崇华小学读三年级的时候，有一天在草场和一名同班姓许的同学打架，后来被巡察员捉去见训育主任黄世昌老师。黄老师是人见人怕的老师。黄老师很会讲故事，不过也很会打人。黄老师问是谁先动手，我看到他拿着拇指般粗的藤条，我怕打，明明是我先动手，我说是许同学先动手。可能我样子比较斯文，黄老师信以为真，狠狠打了许同学三藤屁股，打得许同学呜哇大叫。回教室的时候，许同学一面走，一面哭丧着脸指着我骂。我难过，我内疚。

二则，我在北海励华小学实习的时候，一个晚上，我在祠堂的楼上睡不着，我听到同学和郑老师在楼下小声谈大声笑，我好奇。我赤脚蹑足摸黑走到後楼倾听。突然，我听到有人说，三更半夜楼上的祠坛怎么有脚步声？我又蹑足摸黑经过祠堂和教室回到前楼的宿舍床上睡觉。不久听到有人上楼在我身边说话，老梁是棋王他明察秋毫，他说是老谢走路，老陈是老实人，他说老谢睡着了，不是他。郑老师半信半疑说真奇怪。

这间又是祠堂又是教室的宿舍是有名的猛鬼楼，牡牛不怕虎，鬼都怕了我们。隔天早上，他们问是不是我梦游，我做戏做全套，我说不是。眨眼过了几年，我上了金马伦，当了校长。

一天，一个妇女带了一女孩来找我，这个妇女好面熟，她问，你是不是谢某？她带她的侄女骆桂玉从槟城来报到。阿！她是郑老师的太太。我问候郑老师是否安好？郑太太红着眼说，郑某往生好几年了，不过，他临终前喃喃自语，他不相信猛鬼楼会跑出声音来，他说他不知道真相，死不瞑目。我听了，如雷劈顶，我无言以对，觉得非常难过。傻了一阵子，我想，小小的一个玩笑，竟会令人牵肠挂肚，真是令我终生内疚！

最后信贷产品演说者角落集会2008年12月27日- 陈钦亮

演说者角落最后集会集会-2008年12月27日

陈钦亮先生将于2008年12月27日在演说者角落举行最后一次关于迷你债券和相关金融产品的集会。

目前各别受影响的金融产品投资者（有如迷你债券，高升票据）已经组成他们自己的组织，也积极的在他们各自所选择的地点开会。如果你有意参与这一些组织，你可以联络他们的组长。

陈钦亮先生将利用他的网站来给投资者提供关于接下来法律诉讼的事项和其他有关的最新消息。我也尽可能在我的网站翻译和转载这一些讯息。

吴明盛

2008年12月13日演说者角落陈钦亮演讲翻译稿

1．女皇律师的意见

我已经给于一位新加坡高级律师针对这一些与信贷挂钩的票据做出了简短的报告。他将到伦敦与一位女皇律师商讨和征求他的意见。我们将在明年一月得到这位女皇律师的意见。

2．律师的讲解
有一位已经得到250位投资者的授权书以便采取集体法律行动。他将在2009年1月给更多的投资者讲解他所要采取的法律诉讼途径。他希望能有更多的投资者（DBS High Note 除外）能参与这集体诉讼行动。


3．DBS High Notes 投资者组织

DBS High Notes 的投资者组织得非常好，他们已经召开了好几次会议。他们已经有了自己的网站。

4． 迷你债券投资者组织

这一些投资者也正在筹备自己的网站以便收集他们同类投资者的资料。他们也打算在明年1月召开会议，给投资者提供简报。

5．法律行动

最迟至明年1月底，投资者将会对法律诉讼的途径有更清晰的观点。在此同时，投资者可以继续在我的网站，www.tankinlian.blogspot.com，得到最新的进展报告。

6．美国的法律诉讼

有许多投资者读了一些关于在美国的集体法律诉讼，有如香港方面所做出诉讼行动。我已向新加坡律师查询此途径的可行性。他们的议见是这途径不适合我们。我们将密切注意此事。

7．双汇投资产品

我吁请投资者对这双汇投资产品必须提高警惕。有一些投资者已经在这类产品蒙受了巨大亏损。这类产品的坏处是，你的获利将被局限，但是你所可能承担的亏损是无限的。如果你是以杠杆操作投资，你很可能血本无归。

8． 金融投资者协会

有一些人向我提议成立一个针对金融服务的消费者协会（金融投资者协会， 我已经成立了一个临时工作委员会来探讨成立这协会的事项。这协会的宗旨将是教育投资者和帮助他们检视金融产品是否为投资者提供好的回报率。更多的资讯将会刊载在我的部落格，www.tankinlian.blogspot.com. 我们也将为这协会成立一个新的网站。

9．投诉指南

我已经在这里分发一份拥有关于为这信贷相连产品的投诉过程的相关联络人、网站和资料。

陈钦亮

Human Rights - Minimum Wage & Modern Slavery

I spoke about minimum wage on 13 Dec 2008 at Hong Lim Park, in conjunction with U60 group which is there to speak about Labour Rights.



Against Exploitation and modern Slavery

This topic about Labour Rights and minimum wage is not a very "HOT Topic" politically and any politicians can figure out that in a society which is dominated by a huge middle class citizens, there is really little "political points" to be gained, but potentially lots to lose in talking about it. But I believe in speaking up of what I believe as a social-political activist.

However, I feel that for a self-proclaimed 1st world country, we will have to re-examine ourselves in the policies that we set for our country. Singapore is a Republic, not some ancient feudal state where SLAVERY is the norm. As a modern society, we need to uphold a certain basic values of human decency.

The failure of Free Market Principles

The basis of our society should be built upon certain principles against EXPLOITATION and even modern slavery. All economist of free market believes that in a FREE MARKET, pricing would be determined efficiently by the market itself. Thus, they believe that minimum wage should be avoided. They also believe in fiscal distortions imposed by taxes and levies are also bad.

But the basic principles of a Free market is based on some fundamental assumptions that there are free and efficient flow of market information, labour mobility and such. It basically implies that both the employers and employees have equal standing, negotiation power and freedom of choices. This would apply to most of the middle class workers who have the power of modern information technology and mobility not only within the country's industries, but also global markets.

But for those of "Vulnerable group", such as manual labourers, cleaners and low wage earners, they lack such equal standing against employers. They lack bargaining power basically because they lack labour mobility, in both depth and scope. Thus, Free market principles could not be applied to such group of workers and the industries that they are in.

Most of the time, these people are being exploited, almost as modern slaves. Be it local or foreign workers, they are always the ones being exploited by employers.

The absurd wage comparisons

The most common reason I gather on why local fellow citizen cleaners are paid so lowly is that their employers will claim that they could employ foreign workers at "lower wages". For example, they would cite foreign maids' wage as an example, they were only paid $400 or less, thus paying cleaners $400 is "comparable".

However they did not mention that the total cost of employing a foreign maid includes Government levy ($190), lodging and meals. It could easily add up to $700 or $800 per month. Thus, taking the $400 maid's salary as a gauge to a cleaner's take home pay is totally unfair, because the cleaners have to pay for his or her own food, transport and lodging!

Maids/Workers' levies - Government Exploitation

At this juncture, I would like to talk about government levies imposed on foreign maids and workers. It is totally unacceptable to me that such high levies are applied to these foreign maids and workers.

Take maid levy for example. $190 maid levy on a maid who only earns $400! That is almost half of what the maid earns! That is ridiculous and obscene. Basically, it means Exorbitant EXPLOITATION by our very own government on other people's labour! How could a FIRST WORLD government allowed to exploit other people's labour?

Someone who favor government maid levy argued that these foreign workers should be "taxed". However, I would like to ask, even million dollar ministers are not taxed more than 22%! How could the government tax a maid that earn a miserable wage 30% of the total potential wage ($400 + $190)? Besides, maids are basically taxed through GST, 7% when they consume in Singapore.

Some argue that such levies are to ""protect local workers". But the truth is, it protects nobody as cleaners are still being exploited by their employers and their employers are not paying $590 but only $400 or slightly more than that to their cleaners.

Such high maid levy is basically a "Modern Slavery TAX", an exploitation by the government on other people's labour.


Implications of Government levies on Maid Employers

Most of the middle class maid employers would think that this issue about maid levy is none of their business. But the truth is, they are being reaped off. Let me explain using Hong Kong as an example.

In Hong Kong, there is a minimum wage policy for maids. It amounts to about S$670. They used to have maid levy about S$80 but it has been waived lately. (Contrary to Singapore, the levies collected were put into a fund to help local workers in job training.) But with such a wage, the Hong Kongers are employing more experienced and higher quality maids. Most of the time, the basic requirement is at least 3 years of working experience in Singapore.

But in Singapore, what we get are new, inexperienced and young recruits from the countries of original. And most of the time, they used Singapore as a stepping board or training ground to gain enough experience to get themselves employed in other places like Hong Kong, Taiwan or even Middle East. This is basically why Singapore maid employers always have so much problems with their maids and frequent changing of maids.

Waive the Maid/Worker Levy and set minimum wage

Some people who oppose minimum would use the common propaganda reasoning that minimum wage would increase business cost and cost of living.

First of all, not many MAIN businesses are affected by minimum wages. Most probably only construction sector and the cleaning industry would be affected. But the impace may not be big as the cost of employing foreign workers could be maintained as the same when the workers levy is being cut or waived after the minimum wage is set. Those who exploit local workers from the vulnerable group would have to up their wage accordingly and this is for the cause of prevention of labour exploitation or basically modern slavery. They should not exploit another human being of their fair wage in the very first place.

Some argue that if minimum wage is set for maids, for example, then the middle class would have to suffer higher cost of employing a maid. This may not true at all in Singapore context.

My objective is to eradicate modern slavery, not only by the employers but also the government. Cut down the maid/worker levy to the minimum (maybe $20) or even waive it totally. At the same time, set the minimum wage at the total cost of employing a maid, i.e. $590.

This would mean that the total cost of employing maids would be the same for the middle class employers. And it not only prevent the government of modern slavery but it further prevents exploitation from other employers.

Who gain the most? Not only the maids or low wage foreign workers gain, but local citizens who fall in the vulnerable group will gain too. On top of that, the middle class maid employers would gain by using the increased maid's wage without increasing their cost of employment, to employ more experienced maids. They could demand maids that have worked in places like Malaysia or other places for at least 3 years.

Who would be the loser? The government. Well, if the government is unfair in applying such taxes or levies without diverting such money for the benefits of local workers, then it deserved to be cut from such UNFAIR and IMMORAL revenues.

Goh Meng Seng

雷曼苦主擬聘律師美國集體興訟

(星島)12月5日 星期五 13:01

代表數千名雷曼迷你債券投資者的大聯盟計劃聘請美國 律師，就雷曼迷債在當地展開集體訴訟。大聯盟會與律師簽訂協議，定明收費上限。

雷曼迷債「銀行苦主大聯盟」發言人陳光譽認為，特區政府 與雷曼迷債分銷銀行就回購安排的法律觀點分歧，已令回購迷債計劃「胎死腹中」，決定透過集體訴訟方式，轉而入稟美國法院，控告美國匯豐銀行 ，亦希望政府和苦主代表研究其他方法。但有雷曼迷債投資者就對訴訟有保留，認為應該由政府及銀行去做。

不過，政府仍然希望銀行透過回購解決事件。有學者認為，由於美國投資者亦入稟要求賠償，要出售雷曼迷債資產有困難，估計事件或拖延一段長時間

ICT, SAR 21 & Loyalty

First of all, I must, again, thank all my comrades, officers and men alike, in my reservist unit for their continuous support of my political struggle. Although I didn't manage to convince anyone of you to join opposition politics, but we do have healthy discussions to enhance our understanding what our nation needs most at this juncture.

Loyalty is one of the key value that we share when we are back for In Camp Training and I am glad that our Commander has made it one of the Core Values of our unit. Yes, even as an opposition politician, I do share this very important and key value of Loyalty to the Country with all of you. We still do salute the very same flag of our Nation. Having different political perspective from the ruling party do not make one less loyal than any PAP members.

During this ICT, we have the opportunity to test our "new" weapon, SAR 21. Well, this weapon is not supposed to be new in Singapore Armed Forces, but for my reservist unit, this is the first time we have our hands on this standard issued weapon. This is a Singapore-Designed, Singapore-manufactured weapon which is shorter but heavier than the standard M16. The good thing about this weapon is that its telescope has increased its accuracy tremendously.

I have written about my ICT back in Jan 2007 which included a range. The conditions of the rifle ranges were very poor back then.

However, this time round, I have a pleasant surprised. The same old range has been upgraded. Toilets are clean and the system has improved tremendously. Although there is still a bit of hiccup on the electronic butt, it was rectified quite quickly with well trained wardens.

I just hope that they could keep up with such standards of range maintenance in the future. It would

Goh Meng Seng

2008年十一月30日演说者角落李蕙玲替陈钦亮演讲翻译稿

李蕙玲目前是工人党党员。她曾经是工人党两届中委，而曾在2006年大选时，代表工人党角逐李显龙总理的宏茂桥集选区。她是2006年大选时，在工人党年35岁以下的轻候选人里唯一能用流利华语演讲的候选人。虽然她的团队在总理的宏茂桥集选区里以33.4%败下阵来，但她个人的表现不凡。

蕙玲目前专注于专业翻译的生意，拥有长达5年的翻译经验。这次很有幸能得到她的帮助，为我们的团队做出义务的贡献。在此我要特别感谢她所给以的帮助。

吴明盛



Speaker’s Corner – 29 November 2008
Speech by Tan Kin Lian

投资者应该去见他们的国会议员

我建议你连同其他跟你住在同个区域的投资者一起去见你们的国会议员。如果你之前已经见过你的国会议员，你可以去再见他一次。这次，你必须要求你的国会议员做出正确的举动，毕竟他身为国家领导人的职责就是要代表你发表心声。你可以要求你的国会议员向金融管理局询问以下的问题。

1. 我们之前发出第一份请愿书，要求金融管理局调查某些制造并推销这些信用联结票据的金融机构是否犯了任何错。调查的结果如何？这些金融机构是否触犯了证券期货法和金融顾问法？

2. 金融机构了解了多少投资者的案件？拒绝了多少案件？提出了多少遭到投资者拒绝的提议？有多少案件还在等待裁决？金融机构需要多久才能做出他们的决定？

3. 金融业争议调解中心接到了多少投诉？有多少案件已经被他们裁决了？有多少案件还在待审？金融业争议调解中心需要多久才能处理这些投诉？

国会议员有义务代表你发问这些问题，他们也可以在国会上发问。

商业计划书应该提供实质资料

投资者曾被告知，商业计划书在第一或第二页强调了这一句警告，那就是“你可能损失你的部分或全部投资”。但如果商业计划书没有透露实质资料呢？

新报的财经栏目在2008年11月4日提到：

所有联结票据的共同点就是投资者从没看到收费。这包括

〉初步价格所包含的收费
〉产品的风险和回报架构里的对手风险回报
〉买卖期权、信贷交换契约和债券的佣金
〉庄家费和弃权费
〉每年的管理费，包括商检换证费

这些费用都从殖利率中直接扣除。投资者通常会把低回报归咎于市场环境而不是这些隐藏的费用。

更重要的是，信托基金和投资连结产品会定期地刊登他们的费用。不过联结票据却不会显示其费用。

你可以向律师恰询，不透露以上资料是否相等于触犯了证券期货法的第243章第1a条例。此章程提到：“提供证券的商业计划书应该包含所有投资者和他们的专业顾问所需用来评估第3副章程所列明的事宜的资料。”

新报的这个财经栏目还提到 – 我们应该问的是：“不提供联结票据所包含的费用是否能使联结票据的销售契约失效，我们是否能要求联结票据的发放者和经销商退还款项？”

要求得到书面资料

投资者曾经找客户关系经理洽谈。把联结票据卖给他们的客户关系经理无法提供令人满意的答案。这些投资者于是来向我询问。

我也无法给你答案。我没有答案，因为市面上有很多系列的联结票据，每个系列都不同。

你应该把你的提问以电邮或信件的书面方式向客户关系经理查询，并要求客户关系经理给予你书面的答复。如果你没有得到让你满意的答复，你应该向金融管理局提出书面投诉。如果客户关系经理不知道详情，他有义务向产品发放者得到相关资料。

身为投资者，你有权就你所购买的产品得到相关的资料。如果有任何足以影响你的产品的变动，你也有权得到信托者或协调者的通知。

你一定要采取行动，保护自己的利益。不要接受马虎的答案，如果有任何不妥，一定要提出投诉。

金融业争议调解中心的经历

如果你已经经过了金融业争议调解中心的程序，请让我知道结果如何，好让我们能跟其他投资者分享经验。

虽然你签署了保密协议，但如果只是提供一般的资料，那应该没关系，就好比说你接受裁决了吗？你出席过几项会议？你花了多久的时间呈现你的案件？金融业争议调解中心花了多久的时间提供答案？

对于其他仍在等待着金融业争议调解中心的裁决的投资者而言，这样的资料是相当有用的。

我已经要求媒体向金融业争议调解中心查出他们所通过的案例数据，并且简单描述其结果。我相信公众有必要知道这方面的资料。

到目前为止，他们所提供的答案真的让人觉得心灰意冷。金融业争议调解中心已经收到了很多投诉。要了解案件还需要很长的一段时间。

在这艰难时期的精神健康顾虑

我在此向你们读出这一位投资者的来信。

致：陈先生

首先，谢谢你在你的博格上和芳林公园里所提供的一切援助和资料。

结构性产品和迷你债券的事情最近闹得沸沸扬扬，许多受影响的投资者在经济上和情绪上都受到了很多压力。

遗憾的是，我也购买了其中一样产品，每天都必须经历情绪上的艰熬。

我一方面得时时保持警惕，以处理日常程序，另一方面则要担心我的血汗钱的下落如何。

我相信所有受影响的投资者都会经过这种过程：在迈出每一步之前，等待着更多讯息的当儿，你必须一而再再而三地经历许多精神压力。

〉首先，你向金融机构投诉
〉然后等待他们的答复
〉你再前往金融业争议调解中心
〉然后又再回去等待最新的新闻报道
〉你内心里不停地自问：我到底可以拿回我的血汗钱吗？我可以拿回多少？什么时候才可以拿回？

这就好像你在充满泥巴的操场上托着脚行走，你要向前进，不过却力不从心。

这就好像你在休息时，你的脑还是转个不停。

这就好像当你的孩子向你微笑时，你要费更多的力气来动你的脸部肌肉以回应他。

这就好像当你要关电脑时，硬盘却不肯停下，反而继续转动。

这就好像你上床睡觉时也担心着这件事的结果，并且担心你手头上的其他投资产品也充满毒素。

但是你不知道怎么去查证，你也不知道你是否该相信你的客户关系经理、保险经纪或者是向你出售这些产品的朋友。这并不表示他们在撒谎，只是他们不知道如何探查毒素的存在。

还有更多的问题在后头。

我和我太太的压力大得我们必需去看医生。这样一来，我们明天在忙碌的当儿，就不会忽略我们年幼的儿子还有我们的健康。

我就是我要向所有正在担心正在困惑的人所要传达的主要讯息。我们在伸张正义的当儿，还必须照顾好我们的身体和我们所关心的人。

集体诉讼

不同的团体正在跟律师恰询，看看他们是否能采取集体诉讼。他们还不太清楚律师费的估价和他们的成功几率。

我目前正在跟几位资深律师洽谈，看看商业计划书、收费表、行销手册和广告宣传方面是否有任何误导性的元素。

如果有必要，我们会要求英国的王室法律顾问提供他们的书面提议。我们会查询相关的费用，并且找到支付这笔费用的方法。


下个星期六12月6日，下午5点的特别聚会

我们将在这特别的一天庆祝网上公民成立两周年的纪念。我会在活动上致词，讲解跟信用联结票据有关的课题。

如果你当天有空，请前来参加这一场特别的活动，给予你的支持。

陈钦亮