On 17 December 2009 the SFC announced that its investigations into the distributors of Lehman Brothers minibonds had been completed with an agreement being reached with Grand Cathay. Part of the agreement included Grand Cathay making repurchase offers to all its 37 clients totaling US$3.93 million and those offers being accepted. In addition to the offer, Grand Cathay also has to implement certain measures such as; an enhanced complaints handling system and allocation of commissions from the sales of the Lehman Brothers products to the SFC. Further details of the agreement can be found using the link below. The SFC did note that their investigation into non-minibond structured Lehman Brothers products was ongoing.  

Grand Cathay Agreement