Letter to HK LEGCO about cover up of banks misselling frauds

Concerning today Legco meeting on 22nd Nov. 2011, there are still mis-understanding of non-Lehman Octave Notes with Legco members that Octaves Notes are the same as ELNs that are private placement products. In fact, non-Octave Notes are the same as Minibonds that are approved by SFC to be sold in HK. So from SFC/HKMA agreement with HK banks, non-Lehman Octave Notes should get at least 60% - 70% payment from banks same as Lehman products, but in fact the banks such as Bank of China is paying nothing. So many banks such as Bank of China , Wing Hang Bank have not followed the agreement with SFC and HKMA and there should be punishment for SFC and HKMA for making such a agreement with the banks in order to cover up the banks mis-selling frauds and to harm victims of these products.