HKMA rejects claims it failed to express concerns on minibond risks


The Hong Kong Monetary Authority (HKMA) has rejected claims it did not do enough to warn of possible risks over the sale of Lehman Brothers minibonds.

Testifying in the Legislative Council in Hong Kong in mid-April as part of the ongoing investigation into the sale of minibonds issued by or referencing Lehman Brothers, HKMA chief executive Joseph Yam said he had issued a number of warnings via the media from the middle of 2006 about the risks of investing in these derivatives products.

Yam had

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