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Hong Kong Stock Exchange Consults on Board Diversity
The Stock Exchange of Hong Kong (SEHK or the Exchange) published a consultation paper (Consultation Paper) on 7 September 2012 to seek comments on its proposed amendments to the Corporate Governance Code…
Stock Exchange Updates Listing Decision on PRC Businesses Using VIE Structures
In August 2012, the Stock Exchange of Hong Kong (the Exchange) updated its 2005 listing decision (HKEx-LD43-3) (the Listing Decision) regarding the suitability for listing of PRC businesses using the so-called…
Hong Kong Stock Exchange Publishes Consultation Conclusions on Environmental Social and Governance Reporting
The Stock Exchange of Hong Kong (SEHK or Exchange) published its consultation conclusions (the Consultation Conclusions) on its proposed Environmental, Social and Governance Reporting Guide (the ESG Guide) on…
SFC and HKMA Publish Consultation Conclusions and Supplemental Consultation on the Regulation of OTC Derivatives
The global financial crisis in late 2008 highlighted the structural deficiencies in the over-the-counter (OTC) derivatives market, and the systemic risk it poses for the wider market and economy. In the wake of…
Stock Exchange Consults on Listing Rule Amendments Consequential to Issuers Statutory Obligation to Disclose Price Sensitive Information
Following the enactment of the Securities and Futures (Amendment) Ordinance 2012 (the Amendment Ordinance), Hong Kong Exchanges and Clearing Limited (the Exchange) has published a consultation paper (Consultation…
Hong Kong Stock Exchange Consults on Allowing Publication of PSI During Trading Hours Subject to Trading Halts
Hong Kong Exchanges and Clearing Limited (the Exchange) has published a consultation paper (Consultation Paper) on proposals to allow the release of price sensitive information (PSI) during trading hours subject…
SFC Publishes Consultation Conclusions on Amendments to the Code of Conduct
In May 2012, the Securities and Futures Commission (SFC) published its consultation conclusions (Consultation Conclusions) on the proposals set out in its November 2011 consultation paper…
Hong Kong Stock Exchange Publishes Guidance on Listed Issuers Continuous Disclosure Obligations and on Disclosure of Distributorship Business Models in Listing Documents
In a letter published on 10 May 2012, the Stock Exchange of Hong Kong Limited (the Exchange) reminds listed issuers of their continuous disclosure obligation in light of enquiries regarding the handling of market…
Hong Kong Stock Exchange Publishes Guidance Letter on Profit Forecasts under Main Board Rules and Gem Rule
The Stock Exchange of Hong Kong (Exchange) published on 8 May 2012 a guidance letter (HKEx-GL35-12) on profit forecast in the IPO process to provide guidance and clarification on the following areas: the difference…
Securities and Futures Commission Publishes Consultation Paper on the Regulation of Sponsors
The Securities and Futures Commission (SFC) published a consultation paper (Consultation Paper) in May 2012 to seek views and comments on its proposals concerning the conduct of sponsors in meeting…
Statutory Regime for Disclosure of Price Sensitive Information
The new statutory regime governing listed corporations’ (corporations) disclosure of price sensitive information (referred to in the new legislation as “inside information”) (PSI) will come into effect on 1 January…
Hong Kong Stock Exchange Issues Guidance on Hard Underwriting Disclosure and SFC Fines Investors for Illegal Short Selling and SFC Fines and Revokes Licence of An IPO Sponsor
Hong Kong Exchanges and Clearing Limited (HKEx) has issued a new guidance letter HKEx-GL34-12 (Guidance Letter) in relation to the disclosure of “hard” underwriting arrangements in listing documents. Such…