CONFIDENTIAL
МКС 100.11
22 JUL 1988
077022
MDHIAN 8082
CONFIDENTIAL
FM HONG KONG
L
TO DESKBY 22090OZ FCO
TELNO 2802
OF 22070OZ JULY 88
N
STRY
cent
COPY
O DIST ?
PQ ON SECURITIES REVIEW COMMITTEE REPORT. YOUR TELNO 1929.
WE SUGGEST THAT YOU SHOULD ADD THE FOLLOWING AFTER THE WORD
RECOMMENDATIONS IN THE FOURTH SENTENCE OF PARAGRAPH TWO -
75
IN PARTICULAR THE HONG KONG GOVERNMENT HAVE ACCEPTED THE RECOMMEN- DATION OF THE SECURITIES REVIEW COMMITTEE TO SET UP AN INDEPENDENT STATUTORY REGULATORY BODY, THE SECURITIES AND FUTURE COMMISSION, AND IT IS HOPED THAT THE NECESSARY LEGISLATION WILL BE INTRODUCED WITHIN THIS CALENDAR YEAR. IN ADDITION THE STOCK EXCHANGE OF HONG KONG HAS ADOPTED CONSTITUTIONAL REFORMS TO ALLOW INSTITUTIONAL AND NON- BROKER MEMBERS TO SIT ON ITS COUNCIL, THUS MAKING ITS GOVERNING BODY A MORE BROADLY-BASED AND REPRESENTATIVE ONE IN LINE WITH THE RECOMMENDATIONS OF THE COMMITTEE. THE COUNCIL IS EXPTECTED TO BE IN
PLACE BY OCTOBER.
FORD
/
YYYY
ΜΑΙΝ
12
MINIMAL
HKD
NNNN
DISTRIBUTION
12
1
PAGE
CONFIDENTIAL
76
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