Date
Annex
Chronological list of major events relating to the implementation of
Securities Review Committee (SRC) recommendations
Major event
mid May 1988
Secretary for Monetary Affairs, Mr David announced the establishment of a task force
Nendick,
special Mr Billy
in MAB headed by Lam, AOSG'B' for implementing the SRC
recommendations.
31 May 1988
2 June 1988
13 June 1988
12 July 1988
13 July 1988
20 July 1988
the
SRC Report considered by ExCo. Acceptance by Administration on the general thrust of the SRC recommendations.
Publication of the SRC Report.
Both SEHK and HKFE continued to strengthen their management in order to function as effective self-regulatory organizations.
MI Douglas Ford appointed as the Chief Executive and a Vice-Chairman of the HKFE.
ExCo approved the establishment of the Securities and Futures Commission (SFC) to replace relevant Government regulatory bodies.
Appointment of Mr Robert Owen as the Government Securities Consultant whose primary task was to help establish the new SFC.
SEHK held its EGM and passed the special resolution for reconstitution.
August 1988 onwards
8 August 1988
SEHK
started revising its domestic listing rules in accordance with SRC recommendations.
Incorporation of the Provisional Securities and Futures Commission Ltd (PSFCL) to facilitate the establishment of the SFC. Work started on formulating budgetary plans for the SFC.
staffing and