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  1. Chan calls for banking system to classify product risk and buyers

    Posted Sep 04th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu The government wants to encourage the banking industry to develop its own standardised method of classifying investment product risks and to formulate a test to assess investors' risk appetite. Secretary for Financial Services and the Treasury Chan Ka-keung said yesterday that banks could vet and classify investment products as low, medium or high-risk. Lenders ...

  2. Software to give advisers hi-tech edge

    Posted Jul 11th 2009, 12:00am by John Cremer

    ... Yip Hok-yin, general manager of platform services for iFAST Financial (HK), the lead sponsor of this year's awards. Mr Yip explained that the new module in the company's ... John Cremer One key feature of the SCMP/IFPHK Financial Planner Awards over the past five years has been to maintain three distinct categories for entrants working for banks, insurance ...

  3. Regulator steps up fund approvals to cushion equity market decline

    Posted Aug 12th 2009, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai The China Securities Regulatory Commission is fast-tracking fund approvals to help cushion the recent rout in stocks, but worries remain about a bubble in the equity market, whose main index has jumped nearly 80 per cent this year. ...

  4. Tasty fare for the canny investor

    Posted Jul 26th 2009, 12:00am by Nick Westra

    ... an alternative investment as they have a weak correlation with the general financial markets. 'Making [such] investments makes more sense than investing in energy, which is sensitive to the economic ...

  5. Minibond saga sparks rethink of bank rules

    Posted Jan 09th 2009, 12:00am by Enoch Yiu

    ... intermediaries to compensate investors in the event of misselling or other irregularities. In the longer term, consideration should be given to establishing a financial services ombudsman, both ... Enoch Yiu and Maria Chan Curbs on lenders selling investments, cooling-off period for buyers floated Financial Secretary John Tsang Chun-wah yesterday ordered 'an immediate ...

  6. MPF fund faces name change to avoid confusion

    Posted Feb 23rd 2009, 12:00am by Agnes Lam

    ... the option of keeping their new contributions inactive. It is important for them to put their money in a safe harbour in the face of a financial tsunami,' he said, noting that this would also ...

  7. B-minus for financial services; government must try harder

    Posted Sep 25th 2009, 12:00am by Tom Holland

    ... pretty much sums up the Hong Kong government's efforts to develop the city's financial services industry, according to a report published yesterday. Compiled by a panel of the Business ... constructive criticisms'. The report rightly identifies the financial services industry as one of Hong Kong's greatest strengths. With growth in the sector easily outstripping overall ...

  8. Cutting civil service pay will do nothing to ease financial woes

    Posted May 28th 2009, 12:00am by Staff Reporter

    ... A survey has shown a drop in private sector pay as the city's economy is in recession due to the global financial turmoil. Consequently, editorials in the Hong Kong media are quick to call for cuts in civil service pay. The argument put forward is that civil servants should share the pain. It would appear that such a pay cut is inevitable. Even Chief Executive Donald Tsang ...

  9. Complaints over financial services surge on back of minibond gripes

    Posted Jan 20th 2009, 12:00am by Peter So

    ... Peter So Complaints to the Consumer Council about financial services rose tenfold year on year in 2008 as the watchdog handled a record 42,050 gripes. The total was up 9 per cent from the previous year. Having received just 783 complaints about financial services in 2007, the council received 9,296 last year. Complaints about minibonds issued or guaranteed by bankrupt US bank Lehman ...

  10. Financial services chief to be first to face panel on minibonds fiasco

    Posted Jan 22nd 2009, 12:00am by Paggie Leung

    ... Paggie Leung Secretary for Financial Services and the Treasury Chan Ka-keung would be the first government official to face the Legislative Council subcommittee investigating the Lehman ... for further questioning. About 43,700 Hongkongers invested HK$15.7 billion in financial derivatives issued or guaranteed by Lehman Brothers and sold by Hong Kong banks and stockbrokers. ...




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