Life Cost savings Gone
In the case, DBS acquired failed to properly explain and clarify to retiree traders the risks these were exposing themselves to just before their getting the Lehman Minibonds and High Records 5 you possess. Thereby, all of us sought to examine and assess the ethical ramifications on the numerous stakeholders as well as the ethicality of DBS' actions. Theoretical Viewpoints
Ethical egoism In line with this kind of theory, we can observe that personal wealth and gain may be the goal which in turn motivates a lot of relationship managers, even if this meant providing a false feeling of security or imperfect information to obtain deals. This resulted in the larger number of retirees who would not have a definite understanding of the hazards involved. In addition to relationship managers, some shareholders who were not misled into investing in the minibonds but did so based on their personal judgment, may well have made claims for their deficits to fulfill their very own self-interest of minimizing failures, albeit unethically. This could have been completely accomplished as many investors had been filing says at the level of Lehman Brothers' collapse, thus rendering it difficult to uncover who the actual victims had been. Deontology In the case of compensatory rights, relationship managers who provided misleading sales pitches should always compensate all their clients who also lost their very own investments to a certain extent to prevent similar incidents from developing. DBS should bear the bulk of the responsibility since the bank currently knew that retirees ended uphad been sought out 1st but yet would not step in to make certain they were totally informed of the risks involved. In relation to procedural justice, methods by which the partnership managers adopted were also doubtful. They were trained informally to seek out retirees whenever they could have dedicated to other customer segments which would be much less vulnerable to the risks involved. Lastly, for clientele who were exposed to misleading revenue pitches, the price tag on lost assets should be partially...
Bibliography: 1 . AFP. (2008, October 26). 40 more 'mini-bonds ' misselling in HK. Recovered February 21, 2010, coming from Asiaone Business: http://business.asiaone.com/Business/News/Story/A1Story20081026-96378.html
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3. AFP. (2008, Sept 23). Hk investors may sue retailers of Lehman-backed bonds. Gathered February 26, 2010, from Google Reports: http://afp.google.com/article/ALeqM5i6oBqXgedjD5h45_GkhCKtwPCz4g
5. Chiang, G. (2008, September 23). DBS 'High Notes a few ' Investors: They driven in life savings and now think cheated. Recovered February 26, 2010, by Asiaone Organization: http://www.asiaone.com/Business/News/My+Money/Story/A1Story20080922-89299.html
7. Ewing, K. (2008, October 7). Lehman can burn HK is low-risk investors. Retrieved March 26, 2010, from Asia Times On the web: http://www.atimes.com/atimes/China_Business/JJ07Cb01.html
9. Hwang, J. (2009, March 15). Hong Kong Traders Sue Lehman over 'Minibonds '. Gathered February dua puluh enam, 2010, coming from Life Of Guangzhou: http://www.lifeofguangzhou.com/node_10/node_37/node_83/2009/03/15/123708549061766.shtml
14. Ng, N. C. (2008, October 26). DBS commences compensation method. Retrieved Feb 26, 2010, from Asiaone Business: http://www.asiaone.com/Business/News/My%2BMoney/Story/A1Story20081024-96064.html
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