Martin Wheatley, JP, Chief Executive Officer of Securities and Futures Commission Hong Kong said the promotion and selling methods of the Lehman Brothers Minibond is under investigation.
"Local and overseas investors have never expected that such a large organisation will go bankrupt," he said.
The commission was attacked for insufficient supervision. "Banks have the responsibility to clearly explain the risks of the products and make sure that the products suit their clients' portfolio," Mr Wheatley said. "We are collecting information on how the products were promoted and after our investigation, we would be able to make a conclusion and see if the current supervisory system has room for improvement."
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