Hong Kong Law

HKEX issues consultation paper proposing GEM listing reforms to enhance attractiveness for SMEs seeking capital for growth, while maintaining high standard of investor protection.

HKMA issued its 2023 Fintech Promotion Roadmap with its key initiatives to boost the financial services sector’s Fintech adoption, particularly in wealth management, insurance and green investment sectors

Changes to the HKEX Listing Rule will reduce the number of hard copy documents required to be submitted and circulated by listed issuers. The Listing Rule changes will take effect on 31 December 2023

Hong Kong will expand its insider dealing regime to cover offshore insider dealing in HK-listed securities & HK insider dealing in securities listed offshore, & their derivatives, according to the SFC

The SFC has warned unlicensed virtual asset trading platforms of the potential legal & regulatory consequences of false claims to have applied for SFC-licensing, and providing prohibited services, eg staking

The SFC and HKMA published a joint circular with a streamlined approach that licensed intermediaries can adopt in complying with the suitability obligations for sophisticated professional investors

Revised HKEX Listing Rules for PRC-incorporated issuers reflect PRC regulatory changes & a new filing regime for PRC issuers & overseas-incorporated issuers with their principal operations in China

SFC Chief Executive Officer, Ms. Julia Leung, emphasised the need for Hong Kong to develop a sustainable small-cap stock market to meet the needs of small and medium-sized enterprises (SMEs) and investors

HKEX has published the revised HKEX Listing Rules and Guidance Materials that will take effect on the October 2023 launch of its new digital FINI (Fast Interface for New Issuance) platform

HKEX published a Consultation Paper proposing to mandate all listed issuers to make climate-related disclosures in their annual ESG reports and introduce additional ISSB Climate Standard-based disclosures

The HK Monetary Authority has urged banks to “support virtual asset service providers licensed and regulated by the Securities and Futures Commission on their legitimate need for bank accounts in Hong Kong”

The HKEx has issued its 8th Listed Issuer Regulation Newsletter for HK listed issuers covering auditing and financial reporting, new rules on share schemes and disclosure of business valuations in transactions