A long-awaited report into the rise and fall of Peregrine Investment Holdings, the forerunner of BNP Prime Peregrine, has finally been released. Its contents, however, will disappoint those who had expected a hard-hitting expose of financial finagling at its worst.
The report, produced by an independent investigator at the behest of Hong Kong's financial secretary, has been under wraps for more than a year pending the result of a police and Department of Justice investigation into Peregrine's collapse.
Last month, FinanceAsia called for the release of the report, and speculated that it would likely contain embarrassing information about some of Hong Kong's leading financiers.
As it turns out, the report, authored by Richard...