Almost there: Only 110 Lehman Brothers complaint cases remain under investigation

Investigation of over 99% of the 21,824 complaint cases related to Lehman Brothers has been completed.

The Hong Kong Monetary Authority broke it down as follows:

• 15,772 cases which have been resolved by a settlement agreement reached under section 201 of the Securities and Futures Ordinance;

• 2,738 cases which have been resolved through the enhanced complaint handling procedures required by the settlement agreement;

• 2,210 cases which were closed because insufficient prima facie evidence of misconduct was found after assessment or no sufficient grounds and evidence were found after investigation;

• 839 cases (including minibond cases) which are under disciplinary consideration after detailed investigation by the HKMA, of which proposed disciplinary notices are being prepared in respect of 693 such cases and proposed disciplinary notices or decision notices have been issued in respect of the other 146 cases; and

• 153 cases in respect of which investigation work has been completed and are going through the decision process to decide whether there are sufficient grounds for disciplinary actions or whether the cases should be closed because of insufficient evidence or lack of disciplinary grounds.

There are 110 cases that are still being investigated.