The Association of Banks in Hong Kong will establish a task force to follow up the complaints and compensation demands from the Lehman Brothers mini-bonds holders , Secretary for Financial Services and the Treasury KC Chan said on Thursday.
After a meeting with Lehman Brothers distribution banks, brokers and trustees in government offices Thursday morning, Chan told reporters that the banks are considering providing assistance to mini-bond holders.
Chan said he had asked the banks to put in more resources to handle complaints regarding the mini-bond issues and to proactively contact their customers to provide necessary information.
Representatives from the Monetary Authority, Hong Kong's de facto central bank, and the Securities and Futures Commission also met with Lehman Brothers distribution banks, brokers and trustees.
The Monetary Authority have already received 3,500 complaints on the mini-bonds up to September 30.
(Xinhua News Agency October 3, 2008)
