The SFC published a consultation paper on 17 August 2018, proposing more guidelines on risk management practices for securities margin financing activities. Responses must be submitted by 18 October 2018.
Archived Post for "Hong Kong Law"
SFC Consults on AML and CTF Guidelines
The latest FAFT standards include expansion of requirements in relation to Politically Exposed Persons (PEPs) that address growing concerns about corruption in both local and cross-border contexts
Hong Kong Takeovers Code Amendments effective 13 July 2018
Amendments to Hong Kong’s Codes on Takeovers and Mergers and Share Buy-backs took effect on 13 July 2018 with the publication by SFC of its Consultation Conclusions on proposed amendments to the Codes.
HKEx issues Corporate Governance Code Consultation Conclusions and Guidance for Boards and Directors
In July 2018, the Hong Kong Stock Exchange published its Consultation Conclusions on the Review of the Corporate Governance Code and Related Listing Rule to enhance corporate governance standards of issuers.
CCB International Capital Limited fined $24 million for sponsor due diligence failures
CCB International Capital Limited has been reprimanded and fined $24m by the SFC for its failure to discharge its duties as a sole sponsor in the listing application of Fujian Dongya Aquatic Products Co., Ltd
New Hong Kong Stock Exchange Guidance for Listing Applicants in the Internet Technology Sector
The HKEx published a guidance letter in July 2018 setting out relaxations from the Listing Rules which it may allow for listing applicants in the internet technology sector or that have internet-based business models.
HKEx Consults on Tightened HKEx Listing Rules on Backdoor Listings and Shell Companies
HKEx published a Consultation Paper on Backdoor Listing, Continuing Listing Criteria and Other Rule Amendments containing proposals to tighten the Listing Rules on reverse takeovers and the criteria for continued listing
New Open-ended Fund Company Regime Effective 30 July 2018
The introduction of the open-ended fund company structure is aimed at encouraging more funds to domicile in Hong Kong and to boost Hong Kong’s position as a full service international asset management centre.
Investor Compensation Regime Enhancements Proposed by the SFC
The SFC published a Consultation on Proposed Enhancements to the Investor Compensation Regime and Related Legislative Amendments on 27 April 2018. The SFC is hoping to finalise the proposals by mid-2018.
Hong Kong Listing Rule Changes on Delisting effective 1 August
The Listing Rule changes address concerns about prolonged trading suspensions and as detailed in the Exchange’s Consultation Conclusions on Delisting and other Rule Amendments, adopt the majority of proposals