8.
9.
10.
11.
12.
13.
14.
15.
16.
17
the new SC should be funded mainly from the market but partly also from Government. (para, 9.56)
the new SC Chairman should develop and submit its annual budget to the Finance Committee of the Legislative Council. (para. 9.58)
all the statutory regulatory powers should lie with the new SC. (para. 9.61)
the new SC should continue with the Committee on Unit Trusts under the chairmanship of one of its executive directors. (para. 9.76)
at an early stage the new SC should review, with Government and the industry, the objectives for authorising unit trusts and approving life product advertisements, and more generally for the whole area of pooled investment schemes. This should in due course extend to a review of the authorisation and supervision of investment advisors and managers.
(para. 9.80)
after appropriate consultation, the new SC should introduce general regulations setting out the scope of any exemptions in Secion 4 (2) (g) and conditions in Section 4 (7) of the Protection of Investors Ordinance. (para. 9.85)
the new SC should review what it should be trying to achieve by regulating investment arrangements.
(para. 9.86)
the direction and funding of major inspections involving serious crime should lie with the Financial Secretary. (para. 9.104)
the new SC should be able to bring summary proceed- ings provided that the Attorney General will retain the power to take over a case. (para. 9.107)
while the new SC should maintain an investigatory team it should be able to appoint inspectors. (para. 9.111)
80'd
18
S'I'9
SE:6T TE-SO-886T