The Hong Kong Monetary Authority (HKMA) announced today (Friday) that investigation of over 99% of a total of 21,851 Lehman-Brothers-related complaint cases received has been completed. These include:
Investigation work is underway for the remaining 50 cases.
(A table summarising the progress of the disciplinary and complaint-resolution work in respect of Lehman-Brothers-related complaints is attached.)
For general enquiries, please contact:
Dedicated hotline, at 8100 2314
Hong Kong Monetary Authority
30 March 2012
Notes:
1. These are cases where eligible customers accepted the settlement offers made by the distributing banks in respect of Lehman Brothers-related investment products in accordance with the agreements reached under section 201 of the Securities and Futures Ordinance. The HKMA has informed the distributing banks that, since these agreements contain detailed arrangements for settlement of claims and the implementation of robust systems for selling unlisted structured investment products and dealing with related customer complaints in future, it is not the intention of the HKMA to take any enforcement action in relation to the Lehman Brothers-related cases that involve eligible customers who accept the settlement offers made by the distributing banks pursuant to these agreements.