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The Hong Kong Govt gives banks ultimatum to respond to its buy back proposal.

Buy-back proposal: HK Govt wants reply from banks

Oct 16: The Hong Kong Government has asked banks in the territory to reply within the week to its proposal for the banks to buy back the structured products from investors at their current value. The Government there has launched an investigation into possible mis-selling by the banks. The Consumer Council is also prepared to help complainants with a legal action fund for legal action. The Government said it is ready to top up such legal funds if necessary.

Below is a video of a the news report by :

 

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