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PRESS STATEMENT BY THE FINANCIAL SECRETARY, MR PIERS JACOBS, ON THE REPORT OF THE SECURITIES REVIEW COMMITTEE 2 JUNE 1988

The Report of the Securities Review Committee

has been published today. The Government welcomes

this report.

2.

The Committee has identified various ways

in which the management and operation of our securities

industry can be improved. I believe the report will

serve as a valuable and essential blueprint for future

developments. I would like to take this opportunity

to thank the Committee and its Chairman, Mr Ian Hay Davison,

for their hard work and constructive recommendations.

3.

I would also like to reiterate the Government's

firm commitment to maintaining Hong Kong's status

as an international financial centre, We will proceed

quickly with our examination of the Committee's recommendations

and, after we have considered views expressed on

the report and after consultation with interested

parties, we will seek the approval of the Executive

Council on specific proposals as soon as is practicable.

For this purpose, a special team, consisting of

officers of the Monetary Affairs Branch and the Legal

Department, has been set up to deal with the recommendations

of the Committee.

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