11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
the new SC should set basic minimum capital and liquidity rules for securities and futures intermediar- ies. (para. 10.43)
Section 658 of the Securities Ordinance and the SEHK minimum capital requirments should be reviewed at an early stage. (para. 10.63)
the new SC should consider introducing a system of early notification for capital levels. (para. 10.64)
business conduct rules should be developed in Hong Kong. (para. 10.75)
the conduct of business in Hong Kong should in the main be regulated by codes. (para. 10.78)
consideration should be given to which of the current statutory conduct rules should continue in statute. (para. 10.79)
good business practices should be a condition for the licensing of intermediaries. (para. 10.80)
the legislation should require the SC to issue guide- lines setting out how they would expect to apply the good business practices criterion. (para. 10.81)
there should be strong 3C encouragement for the development of codes. (para 10.85)
Hong Kong should develop voluntary industry codes blessed (but not approved) by the SC and backed by a broad statutory requirment for sound business practices as developed in general non-statutory guidelines to be issued by the SC. (para. 10.93)
QI'd
20
S'I'D 92:6T T2-90-886T