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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (August 14) that, up to 13 August 2009, it has received 21,612 complaints concerning Lehman-Brothers-related products, of which 21,268 complaints have gone through the preliminary assessment process. As a result of the assessment, the HKMA is currently investigating 6,326 cases and seeking further information on 11,966 cases. A total of 2,046 complaints have been closed as there was not sufficient prima facie evidence found after the preliminary assessment process or no sufficient grounds and evidence found after the detailed investigation (A table summarising the complaints received so far is attached).
Since October 17, 2008, the HKMA has referred a total of 501 Lehman-Brothers-related cases (unchanged from last week), involving 16 banks, to the SFC for further action. These cases have been reviewed by the HKMA, which has determined that there are sufficient grounds for referring them to the SFC to facilitate its investigations into banks.
For further enquiries, please contact:
Thomas Chan, Communications Chief, at 2878 1480 or
Natalie Wu, Officer (Communications), at 2878 8246
Ends/Friday, August 14, 2009
Issued at HKT 17:43
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