Sunday, November 29, 2015   

HKMA refers Lehman cases to regulator
(10-17 12:07)

The Hong Kong Monetary Authority, the city's de facto central bank, referred 24 cases to regulators relating to the sale of investment products guaranteed by the collapsed Lehman Brothers Holding.

The cases involve "alleged mis-selling'' by two licensed banks in Hong Kong, the HKMA said, without naming the lenders.

After reviewing the evidence, the Securities and Futures Commission will consult with the HKMA on whether to impose sanctions, the statement said.

Sanctions may include suspension or revocation of registration, reprimands, fines or prohibition orders, it said.

More than 30,000 individuals in the city bought so-called minibonds, or investments guaranteed by Lehman and linked to the debt of some of the biggest Hong Kong companies.

Other Hong Kong breaking news:
Traders and food businesses rake in HK$5.2 trillion (11-27 17:36)
Villagers and developer convicted for village house scam (11-27 16:59)
Mainlander who laundered HK$2.5b jailed (11-27 16:20)
Leung Kwok-hung ejected from Legco lunch (11-27 16:18)
ATV exec Ip Ka-po convicted over delayed staff pay (11-27 16:17)
Another leaked HKU audio clip suggests legal action move (11-27 13:11)
Airport terminal cost blowout reaches HK$16.5b (11-27 12:58)
Hong Kong trade slide continues in October (11-26 17:01)
Unsteady island seen as cause of bridge delay (11-26 16:46)
Elderly Wong Tai Sin wife killer jailed (11-26 13:45)

More breaking news >>

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