Stock exchange reform

PUBLISHED : Tuesday, 07 October, 2003, 12:00am
UPDATED : Tuesday, 07 October, 2003, 12:00am

We now have on the table four alternatives for reform in the vetting and oversight of companies listed on the stock exchange. They are the creation of a subsidiary to Hong Kong Exchange and Clearing (HKEx) or a new government body, transfer of some powers from HKEx to the governmental Securities and Futures Commission (SFC), or dual listing through the SFC and HKEx. Which would you choose? The issue came up in the first place because HKEx, the regulatory authority, appears to have a conflict of interest which tarnishes Hong Kong's image as a financial centre. HKEx has declined once already to transfer some of its powers to the SFC. Write to us.