Fund managers both praise and begrudge broad-brush regulation sparked by the collapse of Lehman Brothers five years ago this weekend. In Hong Kong, there is one point of universal agreement.
The bank agrees to buy back equity-linked notes issued to retail investors between July 2007 and May 2008.
Compliance officers at financial institutions outline how the cost of complying with a raft of regulatory reforms is dampening innovation and making it difficult to stay competitive.
Under the Nomura brand, many of the former Lehman Brothers’ Asian prime broking team are back in business.
Ivanhoe Capital hires Jonathan Dubois-Phillips and Blake Olafson who both previously worked for Lehman Brothers.
Mark Gabbay joins the US property specialist as Asia-Pacific CIO, with his predecessor Ian Mackie taking the role of fund president.
Equity derivatives veteran Jeremy Kloiser-Jones will join Macquarie Securities in Hong Kong on December 1.
Leung will be in charge of structured product sales to CitiÆs private bank clients.
As the Chinese regulator continues to clamp down on the sale of structured products, Hua An's case against the bankrupt Lehman entity drags on.
Repurchase initiatives taken by Sun Hung Kai Investment Services and KGI Asia have been completed.
Hong KongÆs Securities & Futures Commission has reprimanded the company for inadequate internal and compliance controls.
Hong Kong activist investor David Webb says structured products such as LehmanÆs Minibonds need uniform regulation and other measures to restore investor confidence.