Hong Kong Law
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SFC Encourages Inside Information Disclosure before the Statutory Disclosure Regime comes into Effect
The Securities and Futures Commission (SFC) has published a reminder to listed companies to make all necessary price sensitive information (PSI) announcements in the run up to 1 January 2013 to ensure that their…
Stock Exchange Updates Listing Decision on Circumstances under Which It Will Exempt a New Listing Applicant from Filing Placee Lists with Respect to its IPO Shares Sold in Public Offers Outside Hong Kong
On 14 December 2012, the Stock Exchange of Hong Kong (the Exchange) updated its 2005 listing decision (HKEx – LD48-4) (the Listing Decision) regarding the circumstances in which the Exchange will allow a new…
Hong Kong Stock Exchange Publishes Consultation Conclusions on Listing Rule Amendments Consequential on New Statutory Regime for PSI Disclosure
The Stock Exchange of Hong Kong Limited (Exchange) published on 30 November 2012 its consultation conclusions (Consultation Conclusions) on the amendments to the Listing Rules (Rules) of the Main Board (MB) and…
Amendments to the Law on the Use and Provision of Personal Data for Direct Marketing Expected
The Personal Data (Privacy) (Amendment) Ordinance 2012 (Amendment Ordinance) was introduced to enhance the protection of personal data privacy of individuals offered under the Personal Data (Privacy) Ordinance…
SFC Consultation Service on Statutory PSI Disclosure Regime and SFC Consults on Proposals to Enhance the Regulatory Regime for Non-Corporate Listed Entities
The SFC announced on 29 November that its consultation service for listed corporations on their obligations under the new statutory regime for disclosure of price sensitive information (PSI) would commence on 1…
SFC Holds IPO Sponsor Principals Jointly and Severally Liable in Discharge of Responsibilities
The Securities and Futures Commission (SFC) announced on 20 November 2012 that it has banned Mr. Wong Tang Chung, a former responsible officer and executive director of Mega Capital (Asia) Company Limited (Mega…
Amendments to the Definitions of Specified Stock and Futures Exchanges and Proposed Amendments to the Securities and Futures Financial Resources Rules
Amendments to the definitions of specified Futures Exchanges (SFEs) and specified Stock Exchanges (SSEs) in Parts 2 and 3 to Schedule 1 of the Securities and Futures Ordinance (SFO) took effect on 18 July 2012…
Hong Kong Stock Exchange Publishes Guidance on pre-IPO Investments
In October 2012, the Stock Exchange of Hong Kong (the Exchange) published a guidance letter (HKEx-GL43-12) (the Guidance Letter) to consolidate its past listing decisions on pre-IPO investments. Guidance letter…
FSTB and Companies Registry Consult on Subsidiary Legislation to Complement the New Companies Ordinance
The Financial Services and Treasury Bureau (FSTB) and the Companies Registry are currently consulting on the creation of new subsidiary legislation for the implementation of the new Companies Ordinance, which was…
First Dual Counter Security Lists on Hong Kong Stock Exchange
The first dual counter (DC) security, Harvest MSCI China A Index Exchange Traded Fund (Harvest ETF), listed on the Stock Exchange of Hong Kong Limited (the Exchange) on 12 October 2012. A DC security offers two…
Stock Exchange Publishes Listing Decision in Relation to Suitability for Listing of Applicants with Deteriorating Financial Performance and Uncertain Business Prospects
In September 2012, the Stock Exchange of Hong Kong (the Exchange) published a listing decision (HKEx-LD37-2012) (the Listing Decision) regarding whether a GEM listing applicant’s deteriorating financial performance…
The Australasian Joint Ore Reserves Committee Releases for Public Comment the Exposure Draft of the JORC Code 2012
The Australasian Joint Ore Reserves Committee (JORC) released for public comment the exposure draft of the JORC Code 2012 (the JORC Code) on 18 September 2012. The exposure draft was prepared following the code review…