18
020563
CONFIDENTIAL
FM FCO
TO PRIORITY HONG KONG
TELNO 930
OF 13140OZ MAY 91
CONFIDENTIAL
TOP COPY Q DIST?
MDLOAN 1304
Mithe 100/1
m
YOUR TELNO 383: GOVERNANCE OF THE STOCK EXCHANGE OF HONG KONG (SEHK)
1.
WE WERE GRATEFUL FOR THIS TIMELY ACCOUNT. WE SUBSEQUENTLY SAW REPORTS THAT THE INSTIGATOR OF THE ATTEMPT TO REVIVE THE PRACTICE PREFERENTIAL SHARE ALLOCATIONS TO MEMBERS OF THE SEHK COUNCIL, PHILIP WONG, RESIGNED FROM THE COUNCIL ON 8 MAY.
2. IT WOULD BE HELPFUL TO HAVE A FURTHER BRIEF ASSESSMENT OF THE SIGNIFICANCE OF THIS AFFAIR IN TERMS OF ITS EFFECT ON PUBLIC CONFIDENCE IN THE MATURITY/HONESTY OF THE STOCK EXCHANGE AND IN THE REGULATORY CONTROL SYSTEM. WE AGREE THAT THE AFFAIR SHOULD SERVE THE CAUSE OF REFORM OF THE SEHK.
ARE THE NEXT STEPS?
HURD
YYYY
DISTRIBUTION
18
WHAT
ΜΑΙΝ
LIMITED
HKD
SIR J COLES
NNNN
18
MR BURNS
1
PAGE CONFIDENTIAL
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