Hong Kong Law
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SFC Publishes Guidance on Marketing of Existing Collective Investment Schemes and Investment-Linked Assurance Schemes to the Hong Kong Public under the Revised Code on Unit Trusts and Mutual Funds
The Securities and Futures Commission (SFC) issued guidance, on 13 May 2011, in preparation for the full implementation of the Code on Unit Trusts and Mutual Funds (UT Code) and the Code on Investment-Linked…
Takeovers and Mergers Panel Releases Ruling on whether Two Parties Should be Considered Concert Parties under the Takeovers Code
The Takeovers and Mergers Panel (the Panel) released on 24 May 2011 its ruling on whether two parties should be regarded as “Concert Parties” under the Codes on Takeovers, Mergers and Share Repurchases (the Codes).
SFC Publishes Revised Guidelines on Statutory Price Sensitive Information Disclosure Obligation
On 22 June 2011 the Securities and Futures Commission (SFC) published a revised draft of its Guidelines on Disclosure of Inside Information(Guidelines) which provides guidance on the new statutory obligation to…
HKEx Publishes FAQs on Models for RMB IPOs
Hong Kong Exchanges and Clearing Ltd (HKEx) has published Frequently Asked Questions on Models for RMB IPOs (the FAQs) on 22 June 2011. The FAQs confirm the readiness of the HKEx and the Hong Kong market for RMB…
UK Bribery Act Comes into Force the Implications for Businesses in Asia
The UK Bribery Act (the Act) comes into force on 1 July 2011. The Act represents an attempt on behalf of UK legislators to improve the law relating to bribery and corruption, an attempt prompted by increasing…
Consultation Paper on Draft Short Position Reporting Rules Published
On 25 May 2011, the Securities and Futures Commission (SFC) published a consultation paper on the draft Securities and Futures (Short Position Reporting) Rules (SPR Rules). The draft SPR Rules are the result of…
Ex-Entitlement Trading Only After Shareholder Approval
On 20 May 2011, the Hong Kong Exchanges and Clearing Limited (HKEx) published consultation conclusions (Conclusions) on its December 2010 proposal that shares should only be permitted to trade ex-entitlement after…
New Regime for Offers of Structured Products
Amendments to the Hong Kong regulatory regime governing public offers of investment products came into effect on 13 May 2011 with the coming into force of The Securities and Futures and Companies Legislation…
HKEx Listing Decisions on Acceptability of Prior Shareholder Mandates for Notifiable Transactions the Classification of A Share Repurchase By a Listed Subsidary under Chapter 14 and Qualification Requirements for Mainland Property Valuers
HKEx published in March 2011 Listing Decision LD6-2011 as to whether the Stock Exchange of Hong Kong (the Exchange) would permit a prior mandate to take the place of a shareholders’ approval on the contractual…
SFC Report on Sponsor Inspection Findings
On March 29 2011 the SFC published its Report on Sponsor Theme Inspection Findings (the Report). The Report is the work of a specialised team (the SFC Team), set up in 2009, which operates as part of the SFC.
SFC Publishes Consultation Conclusions on the Draft Guidelines on Disclosure of Price Sensitive Information
The Securities and Futures Commission published, on 11 February 2011, Consultation Conclusions (the Conclusions) regarding the draft guidelines (the Guidelines) on the disclosure of price sensitive information…
UK Bribery Act 2010 to Come into Force – UK MOJ Publishes Guidance on Adequate Procedures Defence and DPP and SFO Publish Joint Prosecution Guidance
On 30 March 2011 the UK Ministry of Justice published its Guidance (the MoJ Guidance) on procedures which commercial organisations can adopt in order to prevent persons associated with them from committing offences…