FRIDAY, MAY 5, 1989
9
HE SAID HE HAD MET AND EXCHANGED VIEWS DIRECTORS AND A NUMBER OF STAFF.
WITH
THE COMMISSION'S
THAT
THE PROBLEMS THAT LIE "WE'VE DISCUSSED VERY BRIEFLY SOME OF AHEAD OF US AND OBVIOUSLY A GREAT DEAL STILL REMAINS TO BE DONE.
" HE SAID. IS WHY WE SET UP THIS NEW COMMISSION,
HE SAID THE MATTERS THAT WERE DISCUSSED INCLUDED
TO BE INTRODUCED NEW LEGISLATION THAT WERE NEEDED DEALING LEGISLATION AND SOME OF THE WORK THAT STILL DONE IN RELATION TO THE FUTURES EXCHANGE.
SOME OF THE THE INSIDER NEEDED TO BE
ASKED WHETHER THE GOVERNMENT WOULD INTRODUCE INTO
ΤΟ REFERENCE
TRADING IN FUTURES DEALING LEGISLATION A MR JACOBS SAID THAT ASPECT WAS STILL BEING EXAMINED.
THAT
HE
WAS
HE POINTED OUT INSIDER DEALING INTRODUCED THIS SESSION.
IT
THE INSIDER CONTRACTS,
HOPING ΤΟ
GET A BILL ON
ENACTED DEPENDS UPON
THE TIMING. STILL
GET "WHETHER I SHALL WHETHER OR NOT WE WILL DEAL WITH FUTURES TRADING IN THE BILL IS SOMETHING WE ARE CONSIDERING.
"IN ANY EVENT, I SHALL, AS I
PROMISED, MAKE A STATEMENT ON
THAT PARTICULAR ASPECT EITHER WHEN I INTRODUCE THE BILL
HE SAID. BEFORE THE END OF THE SESSION,
IN
REPLY
то
A
L
OR CERTAINLY
OF THE THE APPOINTMENT
SAID JACOBS
A ALTHOUGH
FEW IN RECOMMENDED, WAS ACTUALLY HAD DONE WAS IN
THE LINE WITH
ABOUT QUESTION NON-EXECUTIVE DIRECTORS OF THE SFC, MR
MORE DIRECTORS WERE
APPOINTED
GENERAL TERMS WHAT THE GOVERNMENT
THAN
RECOMMENDATIONS OF THE SECURITIES REVIEW COMMITTEE.
APPOINTMENT
ASKED WHETHER THERE WOULD BE PROBLEMS POSED BY THE
TWO OF TWO HONGKONG BANK MEMBERS ON THE SFC BOARD, MR JACOBS SAID THE
WERE BOTH APPOINTED IN THEIR NON-EXECUTIVE DIRECTORS IN PERSONAL CAPACITY.
QUESTION
BOARD AND "THERE ARE QUITE A NUMBER OF OTHER DIRECTORS ON THE
BOUND IF QUESTIONS OF CONFLICT DO ARISE FROM TIME TO TIME AS THEY ARE
THERE WILL BE TO, AS IT HAPPENS IN EVERY ORGANISATION IN HONG KONG, DECLARATIONS OF INTEREST.
"I JUST DON'T SEE ANY REASON FOR ANY PROBLEMS AT ALL,
HE SAID.
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