The Chief Executive of Hong Kong Exchanges and Clearing (HKEx), Kwong Ki-chi is to have another opportunity to clear his name, it emerged this week.
A report released following the recent penny stocks fiasco - in which an HKEx discussion paper suggesting the delisting of low value shares prompted a stampede which wiped out the savings of many SAR investors - absolved the majority of involved parties of any blame, stating that Mr Kwong 'would have to bear responsibility on behalf of HKEx for any major policy shortcomings in the preparation and release of the consultation paper.'
However, the Legislative Council (Legco) on Tuesday called for all parties involved in the incident to voice their disagreements with the 181 page report, in order to ascertain if a double standard was employed when apportioning blame for the crisis.
The Hong Kong Standard reported yesterday that the establishment of a new investigation into the incident has not been ruled out, depending on the conclusions reached.
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