Matter settled
Source: Agencies |
November 27, 2010, Saturday
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Print Edition
Print Edition
HONG Kong authorities yesterday said the majority of complaints over the sale of financial products linked to collapsed United States investment bank Lehman Brothers have been settled.
The Hong Kong Monetary Authority said it has finished investigating nearly all of the 22,000 complaints it received, with almost 20,000 resolved through settlement agreements, or in a minority of cases closed for lack of evidence.
Disciplinary measures are being taken in about 1,500 cases, including an unspecified number involving innocuously labeled minibonds, which were in fact complex derivatives sold to many unsophisticated small-time investors.
The Hong Kong Monetary Authority said it has finished investigating nearly all of the 22,000 complaints it received, with almost 20,000 resolved through settlement agreements, or in a minority of cases closed for lack of evidence.
Disciplinary measures are being taken in about 1,500 cases, including an unspecified number involving innocuously labeled minibonds, which were in fact complex derivatives sold to many unsophisticated small-time investors.
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