VP Bank (Singapore) Ltd. supports MAS' initiative to promote fair dealing by financial institutions in the provision of banking services, thereby ensuring that sufficient protection is afforded to clients. In MAS' Guidelines on Fair Dealing (the "Fair Dealing Guidelines") issued on 3 April 2009, MAS has identified the following 5 fair dealing outcomes:
Clients have confidence that they deal with financial institutions where fair dealing is central to the corporate culture.
Financial institutions offer products and services that are suitable for their target customer segments.
Financial institutions have competent representatives who provide clients with quality advice and appropriate recommendations.
Clients receive clear, relevant and timely information to make informed financial decisions.
Financial institutions handle customer complaints in an independent, effective and prompt manner.
As a client-focused organization, delivering fair dealing outcomes to our clients is key in all our business relationships and the highest standards of integrity and care is practised at all levels and at all times. We are fully committed to deliver the above fair dealing outcomes to our clients and maintain the highest operating standards to safeguard the interests of our clients. We believe that it is important that our clients trust the services and products that we provide and we do this by offering the right investment products. We market our products responsible by applying an “open architecture" philosophy, picking independently the best-in-class products and services, including those offered by external providers.
Summary
The services we offer are geared first and foremost to the client, and the client’s individual requirements.
The Wealth Management Solutions and products that we distribute undergo a selection process and we only recommend products that are aligned with the client’s financial objectives, constraints and agreed risk profile.
Our relationship manager are completely trained and certified, prior to them engaging and advising investment products to you.
We provide relevant and clear product information in a timely manner that will help you make informed financial decisions
You have easy access to provide your feedback, which will be invaluable to the growth of the business. You can reach us through our contact form on our webpage, phone, visit our office, contact your Relationship Manager or write to our Compliance Officer for this purpose.
We follow high service standards on complaints handling and resolution where complaints are resolved in an independent and prompt manner. If you like to have an external review of your concerns, we will guide you to seek assistance of FIDReC (Financial Industry Disputes Resolution Centre Ltd).
Our employees are constantly reminded on the importance of Fair Dealing, which is further reinforced through their performance and compensation review framework. In addition, the other Fair Dealing-related processes, systems and policies across the organisation are periodically reviewed and enhanced to ensure their continued effectiveness in helping us deliver the desired customer outcomes.
