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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1260)	11/6/2003 7:40:21 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Hong Kong rethinks its equities rules By Gary LaMoshi HONG KONG - On Wall Street, it took New York Stock Exchange chairman Richard Grasso's US$140 million paycheck to alert investors and regulators that something might be fishy when the government grants a for-profit company the power to make its own rules. Hong Kong's government recognized the problem last year when it appointed an experts panel to review its own stock-market regulation. That expert group's report, released in March, recommended that Hong Kong remove regulatory functions from Hong Kong Exchanges and Clearing Ltd (HKEx), the publicly traded company that owns the local stock market and operates it to make profits for its shareholders (see Hong Kong takes stock of market regulation , April 11). The report quickly won endorsements from government regulators, investors and even, briefly, HKEx. atimes.com