A short of history of the stock exchanges of Hong Kong and the people involved in its development: The Good, The Bad; and The Smugly. Mr Sacklyn kept copious notes of the events which took place in Hong Kong, during the stock-market revolution, brought about in 1969 by Mr Ronald Li Fook Shiu ( ) and his supporters.
The founding of Far East Exchange Ltd broke the back of the monopoly, held for 129 years by The Hong Kong Stock Exchange, which was controlled, completely, by 60 men in those days. The establishment of Far East Exchange Ltd, also, had a very positive, knock-on effect in that it hastened the drafting of new Hong Kong laws, laws that would help to protect minority shareholders of companies, listed on the equity markets of the territory. Prior to the promulgation of these new laws, the powerful and the wealthy business people of Hong Kong thought nothing of committing financial rape of the minorities.
