David Li
In mid-December, legislators representing the functional constituencies, led by Abraham Razack, Chim Pui Chung and David Li, demanded that regulators postponed the execution of a prolonged blackout proposal. Razack said HKEx did not consult widely enough and the process was a "black- box operation" that did not reflect industry opinion; David Webb said that the campaign was due to some well-connected tycoons and company directors' rearguard action to derail the rule change. On 30 December 2008, the Listing Committee said it would not withdraw the new rule because it would "have a long-term benefit on the market. However it postponed the rules' introduction by three months."