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Minibond Updates From Hong Kong

Hong Kong lawyers question whether HSBC should have done more to protect investors from the Minibond product since they provided the directors for the company that was set up to issue the Minibonds and also served as the trustee that held the Minibond collateral.

Hong Kong lawmakers slam HSBC

Refutal from HSBC

HSBC denies having any conflict of interests as both issuer and trustee

Small Claims Tribunal adjourned a hearing for demand of refunds from DBS until March.

Lehman dozen being bullied

The Monetary Authority and the Securities & Futures Commission have submitted a report which looks at Hong Kong’s regulatory framework with regards to the Lehman Minibond incident to Acting Financial Secretary Prof KC Chan.

The Financial Services & the Treasury Bureau will study the report and look at the recommendations to enhance investor protection and education.

Lehman Minibond report submitted

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