Plan to relax compensation terms
Article Abstract:
In order to relax the limitation of the Unified Exchange Compensation Fund (UECF), the amendments to the Securities Ordinance is proposed. The UECF has a reserve of HK$490 mn. The amendments will enable a per claimant compensation limit, as well as the HK$8 mn limit on a defaulting broker. It will also allow payments to be made to investors as soon as individual claims have been verified and allowed, without waiting for whole verification process to be completed and enable the SFC to inject finds in to the compensation fund. The Securities and Futures Commission and the Stock Exchange of Hong Kong will each inject additional HK$150 mn into the fund. *
Comment:
Hong K: In order to relax limitation of Unified Exchange Compensation Fund, amendments to the Securities Ordinance is proposed
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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CSRC looks at ways to bypass HK for capital
Article Abstract:
As more state-owned enterprises have put off plans to list in Hong Kong and overseas stock markets, the China Securities and Regulatory Commission considers new ways of enabling state-owned enterprises to raise funds. One of the options considered involves the use of non-listed B shares which will be listed within a reasonable time. Although non-listed B shares cannot be traded in the secondary market, it will give same rights to shareholders once they are listed. *
Comment:
Hong K: China Securities and Regulatory Commission considers new ways of enabling state-owned enterprises to raise funds
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Legislators question efficacy of changes to securities laws
Article Abstract:
The Government was questioned over its amendment of securities laws which offered compensation to investors which suffered from failed brokerage. Under the amendment, it allows an individual investor to get up to HK$150,000 in compensation. But the Hong Kong Stock Exchange can set exact for each case. The legislators doubted the Stock Exchange may give low compensation if there is no specified amount in the rules. *
Comment:
Hong K: Govt is questioned over amendment of securities laws offering compensation to investors suffering from failed brokerage
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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