supplementary to
Supplementary to question No
pdeཋÊ༽ton
in Leeco ob
in Legco on 9.12.87
2
MR. LI : Sir, I have a question in two parts, Sir. The
first one is while welcoming the
}
appointment
of the
Securities Review Committee, I note that the terms of
reference do not include the role of the Monetary Affairs
Branch in the supervision of the securities markets. What
steps are being taken to review the
capability of this Branch?
competency and
The second one is, in view of
the fact that, first, Hong Kong was the only international
market to close for
for four days during the recent crisis
and, second, Hong Kong was the only Government that had to
hire outside consultants
to advise it on the effects of
the crisis, does this not
indicate a pressing need to
review the competency and capability of the Monetary
Affairs Branch?
FINANCIAL SECRETARY
Sir, I am glad that Mr. David Li
welcomes the establishment of the Securities Review
Committee. In putting together the terms of reference, we
considered it correct and appropriate to include both the
Stock Exchange and the Futures Exchange, and the relevant
regulatory authorities. We did not include the Monetary
Affairs Branch, nor, Sir, did we include the Financial
Secretary! Nevertheless, I can
Council that all officers of the Monetary Affairs Branch
and the Financial Secretary will be very happy to help the
assure Members of this
?