By Francis Chan

OFFICIALS from the Monetary Authority of Singapore (MAS) have run spot checks on financial institutions that sold Lehman-linked products to ensure investors' complaints are handled properly.

The on-site visits, conducted in consultation with three independent parties overseeing the complaints process, were largely encouraging.

The MAS said yesterday that it was satisfied that all 10 institutions are reviewing complaints based on 'principles of fairness rather than taking the strict legal position they would if the matter went to court'.

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