Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Hong Kong banks to form special team on Lehman Brothers mini-bond holders
Adjust font size:

The Association of Banks in Hong Kong will establish a task force to follow up the complaints and compensation demands from the Lehman Brothers mini-bonds holders , Secretary for Financial Services and the Treasury KC Chan said on Thursday.

After a meeting with Lehman Brothers distribution banks, brokers and trustees in government offices Thursday morning, Chan told reporters that the banks are considering providing assistance to mini-bond holders.

Chan said he had asked the banks to put in more resources to handle complaints regarding the mini-bond issues and to proactively contact their customers to provide necessary information.

Representatives from the Monetary Authority, Hong Kong's de facto central bank, and the Securities and Futures Commission also met with Lehman Brothers distribution banks, brokers and trustees.

The Monetary Authority have already received 3,500 complaints on the mini-bonds up to September 30.

(Xinhua News Agency October 3, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
Most Viewed >>
- Bailout rejection to hit investor confidence in China
- Rise of yuan - where now for China's currency?
- Experts: China little affected by US financial crisis
- NZ-China FTA to enter into force on Wednesday
- New regs on foreign investment in advertising firms take effect
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?