KGI repurchases Minibonds worth HK$1.6 million
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 amount invested. KGI voluntarily offered to buy back the products after the SFC, following an investigation, issued a reprimand to the securities firm in respect of internal systems and controls relating to the sale of the Minibond trades.
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