TNAG-1765-FCO40-2519-Hong-Kong-stock-market-and-exchange-rate-1989 — Page 198

1988-06-01

18:25

G.I.S

14

P. 12/13

(2) Licensing

father than

securities

have

intermediaries

co show

that they

registration

05

that all will

are fit and proper

persons and pass tests of honesty, competence

and solvency. AS to the latter we do not

recommend a

requirements

significant

increase in capital

See Chapter X.

(3)

We

discuss the obligations of listed

companies,

particularly with regard to

accounting and disclosure in Chapter XII.

(4)

Finally in Chapter XIII we address a number

of other areas which

important, we

were

although extremely

unable to resolve in the

limited time at our disposal.

recommendations

study.

for further

Here we make

examination and

Bearing in mind that my

discharged We think it

Committee has now been

essential that

we

put all our

arguments forward. After all we only have one bits at the

cherry.

the report is therefore lengthy and I hope fully

argued. It is now up to the authorities and the securities

markets to implement

will.

Our plans and I am sure that they