Activist Webb proposes post-Minibond reforms
Hong Kong activist investor David Webb says structured products such as LehmanÆs Minibonds need uniform regulation and other measures to restore investor confidence.
David Webb, an activist investor in Hong Kong, has proposed three regulatory reforms in the wake of the Lehman Minibond fiasco, in which Hong KongÆs regulators have been swamped by thousands of retail investor complaints that the structured products backed by Lehman have been mis-sold and lost most of their value.
Webb says it is in the interest of distributors and issues of structured products to support these or similar measures, lest regulators in Hong Kong, Singapore or other jurisdictions...
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