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SFC Publishes Update on Intermediaries’ KYC and Account Opening Obligations
May 22, 2015
The Hong Kong Securities and Futures Commission (SFC) has published a circular1 reminding intermediaries of the requirements in relation to Know-Your-Client (KYC) and account opening procedures…
Hong Kong Listing Rule Amendments to Reflect New Financial Information Disclosure and Other Requirements
May 18, 2015
The Hong Kong Stock Exchange (the Exchange) has published its Consultation Conclusions1 on amendments to the Listing Rules to reflect changes in the requirements for disclosure of financial information…
Hong Kong Stock Exchange 2015 Listing Decisions: Regulatory Breaches Impact Cash Flow Calculation and Controlling Shareholders’ Post-IPO Lock-up Explained
May 14, 2015
The Hong Kong Exchanges and Clearing Limited (the Exchange) has published two listing decisions in 2015: Listing Decision HKEx-LD85-20151 which applied the Listing Rules’ 12-month lock-up restriction on …
New SFC Guidance on Inside Information and Listing Document Disclosure and Appropriateness of IPO Incentive Schemes
May 12, 2015
The Securities and Futures Commission’s (the SFC’s) latest Corporate Regulation Newsletter (Issue No. 2 of April 2015)1 includes guidance on: Aspects of listed companies’ obligation to disclose inside …
China Adds 3 New FTZs and Introduces New National Security Review Procedures for Foreign Investments in FTZs
May 12, 2015
Having experimented with the Shanghai Free Trade Zone (SFTZ) for more than a year, in December 2014, China’s Premier Li Keqiang approved three new Free Trade Zones (FTZs) in Guangdong, Fujian and Tianjin…
Court of Final Appeal Ruling: Pacific Sun Advisors and its Director Acquitted of SFO Offence re. Unauthorised Issue of Fund Advertisements
Apr 30, 2015
On 20 March, 2015, the Hong Kong Court of Final Appeal (the CFA) ruled1 in favour of Pacific Sun Advisors Limited (Pacific Sun) and its director and CEO, Mr. Andrew Mantel. The CFA affirmed the Magistrates’ …
New Pre-Trade Checking Model for Trading A Shares under Shanghai-Hong Kong Stock Connect
Mar 25, 2015
Rule changes to allow fund managers holding A shares through special accounts to settle A share trades after execution will come into effect on 30 March 2015. The move comes in response to complaints about…
Hong Kong Stock Exchange to Issue Conclusions on Weighted Voting Rights
Mar 24, 2015
The Hong Kong Stock Exchange Limited (Exchange) will issue its conclusions on its August 2014 Concept Paper on Weighted Voting Rights (see archive) (Concept Paper) in due course, according to Mr. Ashley…
Hong Kong Profits Tax Exemption to be Extended to Offshore Private Equity Funds 2015
Mar 16, 2015
A Briefing Paper1 proposing to extend the current profits tax exemption for offshore funds to offshore private equity (PE) funds was tabled before the Legislative Council Panel on Financial Affairs by …
HKEx Consults on Volatility Control Mechanism and Closing Auction Session 2015
Mar 10, 2015
The Hong Kong Stock Exchange (the Exchange) is consulting on proposals to introduce a Volatility Control Mechanism (VCM) in the securities and derivatives markets and to re-introduce a closing auction session…
SFC Bans Ping An Former CEO for 1 Year over Internal Control Failures 2015
Mar 4, 2015
The Hong Kong Securities and Futures Commission (SFC) has banned the former chief executive officer of Ping An of China Securities (Hong Kong) Company Limited (Ping An), Mr. He Zhi Hua (He), for twelve months…
Short Selling of A Shares via Shanghai-Hong Kong Stock Connect Starts Monday, 2 March
Mar 2, 2015
The Hong Kong Stock Exchange (the Exchange) has announced that short selling of certain Shanghai-listed A shares through the Shanghai-Hong Kong Stock Connect programme (Stock Connect) is allowed from Monday…