The Democratic Party has called on lawmaker Chan Kam-lam, of the Democratic Alliance for the Betterment and Progress of Hong Kong, to quit a Legislative Council committee investigating the minibonds scandal, to avoid a conflict with his directorship of the watchdog which approves such investment products. Mr Chan, who joined the Legco subcommittee investigating the chaos surrounding the Lehman Brothers minibonds, is also a non-executive director of the Securities and Futures Commission. Democrat Lee Wing-tat said that his party was calling on Mr Chan to quit the committee to avoid a conflict of interest. 'The committee would have power to summon officials, most likely those from the SFC, to explain why the series of structured products were allowed to be sold to small investors,' he said. 'Chan Kam-lam would be probing his own colleagues. This would affect the Legco committee's credibility.' Mr Chan admitted that in Legco meetings where lawmakers had discussed and voted to set up the committee, he had never declared his SFC position, but that was because he thought it was already well known. 'There is no conflict of interest,' he said. 'My being a non-executive director was public information.' He said he had only joined the SFC last year and was not involved in the approval of Lehman Brothers minibonds. While saying there was no need for him to quit the committee, Mr Chan said he would discuss the issue with other committee members. 'Those who might have a conflict of interest are those who have bought Lehman Brothers minibonds,' he said.