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FRIDAY, MAY 29, 1992
KWOLOON WALLED
FURTHERMORE, WITH THE
CITY SCHEDULED TO BE CLEARED OF RESIDENTS BY JUNE THIS YEAR, THE SPECIAL COMMITTEE HAS ALSO DECIDED THAT A DEADLINE SHOULD BE SET FOR APPEALS TO THE APPEALS TRIBUNAL FROM CLEAREES OF ALL PHASES OF THE KOWLOON WALLED CITY.
THE DEADLINE HAS ALSO BEEN SET FOR AUGUST 2. ANY APPEALS FROM CLEAREES TO THE APPEALS TRIBUNAL AFTER THAT DATE WILL NOT BE ENTERTAINED.
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REGULATION OF FRINGE FOREIGN EXCHANGE COMPANIES
REGULATING GOVERNMENT SPOKESMAN SAID.
SEEK LEGISLATIVE APPROVAL FOR THE GOVERNMENT IS PLANNING TO
ROLE OF THE SECURITIES AND FUTURES COMMISSION (SFC) TO UNDERTAKE THE
EXCHANGE COMPANIES
HONG KONG, FOREIGN FRINGE
IN
"THE HONG KONG FUTURES EXCHANGE
(HKFE) HAD EARLIER BROACHED ESTABLISHING UNDER
THIS CONCEPT
IN
DETAIL,
AN ALTERNATIVE APPROACH WHICH WOULD HAVE INVOLVED ITS AUSPICES A RETAIL CURRENCY MARKET.
"HOWEVER, AFTER CAREFULLY EXAMINING
ONLY CONSIDER PURSUING THE HKFE HAS COME TO THE VIEW THAT IT COULD
THE REGULATION OF SUCH A PROPOSAL AFTER A LEGISLATIVE FRAMEWORK FOR
HE SAID. FRINGE FOREX COMPANIES HAS BEEN PUT IN PLACE,
++
BY THE MONETARY OUT THE ORIGINAL AUTHORITY FOR THE
AND COMPANIES
TAKE
"THE INTER-DEPARTMENTAL WORKING GROUP SET UP
CONTINUE TO FLESH AFFAIRS BRANCH WILL THEREFORE REGULATORY PROPOSAL WHICH WAS TO SEEK LEGISLATIVE
EXCHANGE SFC TO REGISTER AND SUPERVISE ENFORCEMENT ACTION AGAINST UNREGISTERED DEALERS.
FOREIGN
THE PROPOSED
WILL LEGISLATION "IT IS EXPECTED THAT
17 HE SAID. INTRODUCED IN THE COURSE OF THE NEXT LEGISLATIVE SESSION,
MEANWHILE, MEMBERS OF THE PUBLIC ARE REMINDED IN INVESTING RISKS INVOLVED
HIGH CONTRACTS.
WOULD
BE
THAT THERE ARE FOREIGN EXCHANGE
IN LEVERAGED
ΤΟ INVEST IN SUCH CONTRACTS SO
LONG THROUGH STANDING AND
SUCH AS
ESTABLISHED
AUTHORISED
THOSE WHO CHOOSE, NEVERTHELESS,
TO DO BE WELL ADVISED INTERMEDIARIES OF HIGH REPUTATION INSTITUTIONS UNDER THE BANKING ORDINANCE.
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