Melvin Yong on Central Provident Fund (Amendment) Bill
The Singtel Special Discounted Shares were previously held within the CPF-linked framework with built-in safeguards. Once they become directly owned and easily tradable, they and their holders are potential targets for bad actors. MP Melvin Yong said this in parliament on Thursday (May 7). He called for strong public messaging to warn consumers, especially seniors, against scams and misselling; “light-touch” safeguards at the point of sale, such as a clear prompt or short cooling-off period; and close monitoring by authorities during the transition period as well as a post-implementation review.
The Singtel Special Discounted Shares were previously held within the CPF-linked framework with built-in safeguards. Once they become directly owned and easily tradable, they and their holders are potential targets for bad actors. MP Melvin Yong said this in parliament on Thursday (May 7). He called for strong public messaging to warn consumers, especially seniors, against scams and misselling; “light-touch” safeguards at the point of sale, such as a clear prompt or short cooling-off period; and close monitoring by authorities during the transition period as well as a post-implementation review.
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