Gather the voice of fellow finance professionals in monitoring the government and promoting democracy in Hong Kong. We strive to raise the finance industry's awareness of, and participation in, public affairs, and make our voice heard through our functional constituency representatives in the Legislative Council.
To: Mr. Norman Chan, Chief Executive of Hong Kong Monetary Authority Mr. Carlson Tong, Chairman of the SFC Mr. Ashley Alder, Chief Executive Officer of the SFC
On Nov 17, 2016 the U.S. Securities and Exchange Commission (SEC) reached a settlement agreement with JP Morgan Chase & Co and its Hong Kong subsidiary JPMorgan APAC regarding the scandalous hiring of Chinese 'princelings'. The SEC's summary findings report, also dated Nov 17, 2016, disclosed the existence of a 'summer camp' internship program (Program) in 2009-2010 within JPMorgan APAC. Candidates for this Program were selected based on client relationships. To successfully refer a candidate to the Program, a client should generate at least USD3mil of fee income for JPMorgan APAC. JPMorgan allows the participants to list the Program on their resumes.
Recently the local media revealed that, back in 2010, Ms Chung-Yan Leung (Ms Leung), youngest daughter of the current Chief Executive of Hong Kong, Mr CY Leung (CE), who was then the Covenor of the Executive Council of Hong Kong, has participated in the Program. Ms Leung was at that time a secondary school student.