Minibonds losses prompt Hong Kong SFC to demand increased disclosure
On September 25, Hong Kong’s Securities and Futures Commission (SFC) issued a ‘Consultation Paper on the Proposals to Enhance Protection for the Investing Public’, asking for increased disclosure in response to losses attributed to Lehman Brothers’ Minibonds. The publication of the 368-page document marks the beginning of a three-month consultation soliciting public comments on “proposals to fine-tune existing regulations governing the sale of unlisted securities and futures products to the
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