HK to enhance financial regulation to protect investors

16:15, October 14, 2009      

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Hong Kong Special Administrative Region (HKSAR) Chief Executive Donald Tsang said Wednesday that the HKSAR government will further enhance financial regulation to protect investor and financial security.

"To better protect investors, we will canvass the views of the parties concerned on the regulatory regime and the entire sales process of investment products," said Tsang when delivering his annual policy address at the Legislative Council.

He said that the Government aims to strengthen investor protection in every aspect, from investor education, authorization of investment products, disclosure requirements, sales practices, conduct of intermediaries to financial disputes resolution.

"Some of these measures have been implemented while some are undergoing or will undergo public consultation," said Tsang.

The local financial system had emerged from this global financial crisis without any systemic problems, thanks to Hong Kong's robust regulatory regime, he said.

Tsang pointed to the fact that the G-20 and international regulatory bodies, having learnt lessons from the crisis, have proposed a series of measures to enhance the regulation of financial institutions and markets.

"Together with the regulators, we shall continue to improve our regulatory regime, taking into account global financial developments and local market needs," he said.

Source:Xinhua
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