I have written to The Straits Times forum calling for more regulation in the currently unregulated investment schemes. The letter is reproduced below – Regulate for safer investments.

THE explanation by the Monetary Authority of Singapore (MAS) (“MAS spells out regulatory criteria”; last Saturday) to the question raised by Mr Tan Sin Liang about regulating questionable firms (“Not as good as gold at all…”; Oct 14) is that these firms fall outside the MAS’ jurisdiction.

For the record, 200 investors lost $6 million in British landbanking schemes in 2010.

Sunshine Empire amassed more than $180 million before the authorities moved in.

Investors in wine firm Universal Assets Group also faced losses.

Profitable Plots and now, Genneva, are currently being investigated by the Commercial Affairs Department.

Profitable Plots, Sunshine Empire and Genneva all have one thing in common: they are listed on the MAS’ Investor Alert list but were, nevertheless, allowed ...