34
WEDNESDAY, APRIL 12, 1989
+
QUESTION
QUICKLY
AS
*FOR EXAMPLE, FIRST AND FOREMOST PROBABLY WILL BE THE
SHOULD AS WHICH ARRANGEMENTS OVERSEEING LISTING POSSIBLE BE PUT IN THE HANDS OF THE STOCK EXCHANGE,'
OF
"
HE SAID.
HE SUGGESTED THAT THE ADMINISTRATION REVIEWED THE THIS RESPECT THROUGH A SIX-MONTHLY AUDIT.
PROGRESS IN
SECURITIES RELATIVELY STRONG POWERS MUST REMAIN A LEAN AND
IN CONSLUSION, MR BARROW SAID IT WAS RIGHT THAT THE AND FUTURES COMMISSION SHOULD BE GIVEN THE ALLOWED FOR IN THE BILL BUT IN PRACTICE IT TIGHTLY MANAGED ORGANISATION.
RESERVATIONS OVER SFC STRUCTURE
THE HON PAUL
COUNCIL THAT
CHENG TODAY (WEDNESDAY) TOLD THE RESERVATIONS CONCERNING HAD SERIOUS HE
STRUCTURE OF THE ELABORATE PROPOSED ORGANISATIONAL
BUDGETARY FUTURES COMMISSION (SFC) AND SUBSTANTIAL ALLOTED TO IT.
LEGISLATIVE THE OVERLY SECURITIES AND BEING PROVISION
SPEAKING DURING
THE RESUMED
DEBATE
ON THE
THE
NECESSARY
SECURITIES
POWERS
AND THERE ΤΟ
WITH
FUTURES COMMISSION BILL 1989 MR CHENG SAID HE FULLY AGREED THAT WAS A NEED TO ESTABLISH A COMMISSION PERFORM A WATCHDOG FUNCTION OVER THE EXCHANGES.
HOWEVER, HE FELT THAT THERE WERE FAR TOO
MANY LAYERS IN THE
SFC STRUCTURE AND THE SPAN OF REPORTING SCOPE FAR TOO NARROW.
A
REAL
NEED
EIGHT
229-STRONG
HAVE ΤΟ WAS MR CHENG WONDERED IF THERE PEOPLE WORKING FOR THE COMMISSION CHAIRMAN'S OFFICE AND 25 PEOPLE FOR
OF A DEPARTMENT THE PERSONNEL AND ADMINISTRATIVE
ORGANISATION.
HE WAS OF THE OPINION THAT THEY COULD EASILY WITHOUT LOSING THE COMMISSION'S OVERALL EFFECTIVENESS.
BE
TRIMMED DOWN
ΤΟ ONLY LEAD JUSTIFY THEIR
CAN STRUCTURE HEAVY "THIS UNNCESSARILY TOP OVER-REGULATION BECAUSE SOME OF THE STAFF WILL NEED TO EXISTENCE.
/"I SEE