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Year of the note

The retail investor market for credit-linked notes has taken off in Hong Kong over the past year. Andrew Malcolm of law firm Linklaters looks at the legal implications of launching structured notes for retail investors

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Hong Kong’s retail bond market finally took off last year – although not quite in the direction that had been expected. For a number of years now, it has been stated government policy to promote a public bond market in Hong Kong, and a succession of state-owned companies, beginning with the Hong Kong Mortgage Corporation and now including the Airport Authority, Mass Transit Railway Corporation and

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