Hong Kong Law
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Singapore Exchange Introduces SPAC Listing Framework
The Singapore Exchange (SGX) announced new rules to enable Special Purpose Acquisition Companies (SPACs) to list on the Mainboard. The rules took effect on 3 September 2021.
SFC Publishes Q2 2021 Report
The SFC published its quarterly report for Q2, covering the period April to June 2021, in order to keep stakeholders and the public informed of key regulatory developments
SFC Concludes on Hong Kong Investor Identification Regime and OTC Securities Transactions Reporting Regime
The SFC published its Consultation Conclusions on proposals to introduce an investor identification regime for the Hong Kong securities market and an over-the-counter securities transactions reporting regime
FINI – HKEX’s New IPO Settlement Platform to Implement T+2 IPO Settlement Timetable
Introduction of the new mandatory IPO settlement platform ‘Fast Interface for New Issuance’ (FINI) will settle on the revised “T+2” IPO settlement process and is expected to be launched in the fourth quarter of 2022
SFC to Upgrade Competency Standards for Licensed Intermediaries and Individuals from 1 January 2022
The MRF scheme enables Hong Kong and Thai funds authorised or approved for retail distribution in their home market to be authorised or approved for retail distribution in each other’s markets.
Implementation of Hong Kong-Thailand Mutual Recognition of Funds Scheme
The MRF scheme enables Hong Kong and Thai funds authorised or approved for retail distribution in their home market to be authorised or approved for retail distribution in each other’s markets.
FSTB Concludes Consultation on Registration Regime for Dealers in Precious Metals and Stones
Registrants engaging in cash transactions at or above HK$120,000 will fall under Category B and will need to comply with the AML/CTF obligations stipulated in Schedule 2 to the AMLO
Court Rejects Judicial Review Application to Challenge HKEX Delisting
This is the latest in a line of recent High Court judicial review judgments made in favour of the HKEX which have generally endorsed its delisting procedures and the Listing Review Committee review process
HKEx Listing Rule Changes on Disciplinary Powers and Sanctions effective 3 July 2021
The SFC and HKEX have observed an increasing number of “ramp-and-dump” schemes in recent IPOs, particularly in IPOs of companies with smaller market capitalisations.
SFC and HKEX Issue Joint Statement on IPO-related Misconduct
The SFC and HKEX have observed an increasing number of “ramp-and-dump” schemes in recent IPOs, particularly in IPOs of companies with smaller market capitalisations.
HKEX to Raise Main Board Profit Requirement from 1 January 2022
The HKEX decided to adopt a smaller increase of 60% in the aggregate profit required under the Main Board’s profit test, one of three financial tests for establishing eligibility to list on HKEX’s Main Board
FSTB Concludes Consultation on Licensing Regime for Hong Kong Virtual Asset Exchanges
FSTB proposed establishing a licensing regime under the AMLO for VASPs in Hong Kong, which would require any person wishing to operate a virtual asset exchange in Hong Kong to apply for a licence from the SFC