You’ll have to be a WSJ subscriber to read the whole of this article entitled…
Clearing Hong Kong’s Hazy Governance
In Hong Kong, haze isn’t just an environmental problem.
A pair of corporate dramas has put a spotlight on murky areas in the territory’s investor protection laws. Now it’s up to Hong Kong to fix the loopholes.
The first is a serious flaw which, regulators allege, allowed backers of a management-led buyout of PCCW to sway a shareholder vote. The second — vague and poorly enforced disclosure laws — had Citic Pacific sitting on information about a massive derivatives loss ..
That succinct intro says it all really..
