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KGI buys back HK$1.6 million of Lehman Brothers Minibonds

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Securities firm KGI Asia has agreed with the Securities and Futures Commission (SFC) of Hong Kong to repurchase all outstanding Lehman Brothers' Minibonds subscribed or bought by its clients at a price equal to the principal invested. KGI volunteered to buy back the products after the SFC, following an investigation, reprimanded the securities firm in respect of internal systems and controls relating to the sale of the Minibond trades.

KGI, which is the second securities firm to buy back Minibond