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Press Releases

Latest Position of the HKMA's investigations in
Lehman-related complaint cases

The Hong Kong Monetary Authority (HKMA) announced today (Friday) that investigation of over 99% of Lehman-related complaint cases has been completed.

Up to 25 March, out of the 21,541 complaints received, a total of 21,394 cases have been resolved or gone through the HKMA's investigation process. These cases include:

  • 2,842 cases that have entered or are likely to enter into the disciplinary process;
  • 3,691 cases that have been closed or are likely to be closed because of insufficient evidence and grounds for disciplinary process; and
  • 14,861 cases that have been resolved under the Minibond Repurchase Scheme or through banks' enhanced complaint handling procedures after investigation on some of such cases have been completed.

The remaining 147 cases are still under investigation for a variety of reasons. For example, some cases have been lodged with the HKMA recently, some complainants are non-contactable or unavailable for interviews, and some cases involve multiple investment products. The HKMA will continue its investigation into these cases. Progress updates of these cases will be released on a weekly basis.

A table summarising the progress of the disciplinary and complaint resolution work in respect of Lehman-related complaints is attached.

The HKMA will inform complainants individually as soon as possible the results of its investigation on their cases once the relevant process is completed.

While the HKMA will seek to pursue enforcement action through the disciplinary process, it wishes to reiterate that it may be in the interest of complainants and banks to resolve the matter through settlement.

Table

For further enquiries, please contact:
Alice Lo, Communications Chief, at 2878 1480 or
Yokee Wong, Manager (Communications), at 2878 1213

Hong Kong Monetary Authority
26 March 2010

Last revision date: 1 August 2011
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