8 Aug 2016
CHANG PUI YIN AND OTHERS v. BANK OF SINGAPORE LTD
- Citation
- CHANG PUI YIN AND OTHERS v. BANK OF SINGAPORE LTD
- Court
- Court of First Instance
- Case number
- HCCL12/2013
The Services Agreement, read in its factual matrix and marketing materials, was properly construed to require the Bank to provide an advisory service for non‑discretionary accounts established on an advisory basis; consequently the Bank owed a contractual duty to exercise reasonable care and skill to ascertain clients' objectives and risk appetite, to recommend only products suitable to those objectives and to warn of material risks. The Bank breached that duty by selling and recommending high‑risk leveraged and currency products without adequate risk explanation and without regard to the pla…