LEGCO WORK

Council Meetings (Oral Question): Unscrupulous Business Practices of Financial Intermediaries (2015.11.11)

MR CHAN KIN-POR (in Cantonese): President, the malpractices of unscrupulous intermediaries would indeed create long-suffering consequences for the victims. Having met some victims personally, I have a fair understanding of the far-reaching adverse impacts that they were put through.

In the past, the Government has always refused to review the Ordinance. Echoing Mr Dennis KWOK’s view, I also hold that the Secretary’s present undertaking to review the Ordinance taking into account the views of Members and interested parties is a major step forward. But to ensure the delivery of results by the Government, I would like the Secretary to give us a timetable, for instance, whether the initial study findings or a directional document on the reform can be presented to the Council within three months or six months? I hope he can give us a timetable along this line.

SECRETARY FOR FINANCIAL SERVICES AND THE TREASURY (in Cantonese): Mr CHAN, we will definitely brief Members as soon as possible.

MR CHAN KIN-POR (in Cantonese): My question is: Can the Secretary give us a timetable? Is he talking about a timeframe of three months or six months?

PRESIDENT (in Cantonese): Secretary, can you provide a specific timetable?

SECRETARY FOR FINANCIAL SERVICES AND THE TREASURY (in Cantonese): President, I honestly cannot give a specific timetable right now. But I am more than happy to maintain communication with Members, both inside and outside this Council. The Bureau always welcomes the opportunity to have detailed discussion with Members.

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