Hong Kong Law
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Securities and Futures Professional Investor Rules Amendments
The amendments allow an individual’s share of a portfolio held in an account jointly owned by the individual with non-associates to be aggregated for the purposes of meeting the professional investor threshold
Corporate misconduct: SFC outlines its regulatory approach
The Regulatory Bulletin gives details of the SFC’s exercise of its powers under the SMLR in order to fulfil its statutory obligation of investor protection in the nine months ended 31 Match 2018.
Listing Rules on Capital Raisings by Listed Issuers Tightened by HKEx
Amended Listing Rules disallow rights issues, open offers and specific mandate placings, individually or when aggregated within a rolling 12-month period, that result in a cumulative material value dilution
SFC Outlined Market Regulation Approach and fined Citigroup
Mr. Brian Ho of the SFC outlined its approach to market regulation in a speech and the SFC reprimanded and fined Citigroup Global Markets Asia Limited HK$57 million for due diligence failures.
Hong Kong Monetary Authority to Launch Pilot Bond Grant Scheme
On 10 May 2018, HKMA issued a circular setting out details of the highly anticipated three-year Pilot Bond Grant Scheme
SFC Guidelines on Online Platforms and Advisory Services
The Guidelines will clarify how SFC-licensed and registered entities should comply in an online environment with the obligation to ensure the suitability of client recommendations and solicitations.
New Rules for Listing Biotech Companies on Hong Kong Stock Exchange
The Hong Kong Stock Exchange (the Exchange) published its Consultation Conclusions on a Listing Regime for Companies from Emerging and Innovative Sectors on 24 April 2018 (Consultation Conclusions)
Consultation Conclusions on WVR Listings
The Guidelines will clarify how SFC-licensed and registered entities should comply in an online environment with the obligation to ensure the suitability of client recommendations and solicitations.
SFC and CSRC increase daily quotas for Mainland-Hong Kong stock connect
The new daily quotas will take effect on 1 May 2018 and will increase the daily quota for each of the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect schemes.
Continued deficiencies in sponsor work identified by SFC
The said deficiencies were especially common for sponsor work done for GEM IPOs. Between October 2013 and December 2017, 44 listing applications were returned or rejected due to concerns raised during the vetting process.
SFC and Exchange sign addendum to MOU Governing Listing Matters
The Addendum arranges for the establishment of a new Listing Policy Panel as a centre point for discussions on listing policy with broader regulatory or market implications.
HK Stock Exchange Consults on Listings of Emerging and Innovative Companies
On 23 February 2018, the Hong Kong Stock Exchange released a Consultation Paper on a Listing Regime for Companies from Emerging and Innovative Sectors, setting out proposals to allow the listing of a broader range of companies.