Financial Supervisory Service’s Authority on Hong Kong ELS Compensation

The Financial Supervisory Service has responded to concerns regarding compensation standards for subscribers to the Hong Kong H Index equity-linked securities (ELS). They assert their legal authority to establish such standards under the Financial Consumer Protection Act. Article 33 of the Financial Services and Financial Services Act outlines the service’s responsibility in mediating financial disputes, including those involving institutions and consumers. The Financial Supervisory Service is actively addressing the surge in dispute mediation applications related to Hong Kong H Index ELS and is considering measures for providing relief to affected subscribers. They emphasize their commitment to swift dispute resolution.

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