H.
TABAEA
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HONG KONG STOCK AND FUTURES EXCHANGES
1.
Hong Kong as a financial centre: Securities Review Committee
After the events which affected the world's stock exchanges in
October 1987 the Hong Kong Government acted quickly to appoint a
Securities Review Committee to undertake a thorough review of the
Stock and Futures Exchanges and the Government's regulatory
position. This demonstrates the Hong Kong Government's
determination to act swiftly and decisively to identify underlying
problems and maintain Hong Kong's reputation as a financial centre.
We
The Committee's report was published in Hong Kong on 2 June.
welcome the publication of the report. We know that the Hong Kong
Government are studying its conclusions carefully and with a view to
early implementation. We believe that the Review and the follow up
to it will contribute to the maintenance and further enhancement of
Hong Kong's reputation as an international financial centre.
2. Investigations by the Independent Commission against
Corruption
The investigation is of course a matter for the Hong Kong
authorities. I cannot comment on the substance of the allegations. But it is clearly right that the authorities should have moved
decisively to take the action which they judged necessary. This is further evidence of their determination to deal effectively with any
problems which are identified in the operation of Hong Kong's
financial institutions.
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