1998-10-31
33:34
6.1.5
P.G7
be
We are engaged in one such review at this time. A
particular concern is how the delivery of services can
better co-ordinated. The review is being carried out in
close consultation with the Industry Development Board.
Regulation of Securities Markets
13.
Sir, on the regulatory front, you referred to our
progress in stepping up protection of the ordinary
investor, and your belief that we now have the regulatory
balance about right. I would like to echo that sentiment.
Although we are aware of the dangers of over-regulation, we
have
experienced the effects of inadequate regulatory
control Over the pursuit of self-interest in the market.
The importance of maintaining progress and balance in this field is no less now than it was in 1987.
14.
in the
There ar those who have suggested that, as Hong Kong managed well
the past with few regulatory disciplines, it can continue to do so in the future. This view is out of step with the current realities of the
securities market. Whether we like it or not, we are part
of an increasingly int
ד