Hong Kong Law
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Consultation Paper on Draft Short Position Reporting Rules Published
On 25 May 2011, the Securities and Futures Commission (SFC) published a consultation paper on the draft Securities and Futures (Short Position Reporting) Rules (SPR Rules). The draft SPR Rules are the result of…
Ex-Entitlement Trading Only After Shareholder Approval
On 20 May 2011, the Hong Kong Exchanges and Clearing Limited (HKEx) published consultation conclusions (Conclusions) on its December 2010 proposal that shares should only be permitted to trade ex-entitlement after…
New Regime for Offers of Structured Products
Amendments to the Hong Kong regulatory regime governing public offers of investment products came into effect on 13 May 2011 with the coming into force of The Securities and Futures and Companies Legislation…
HKEx Listing Decisions on Acceptability of Prior Shareholder Mandates for Notifiable Transactions the Classification of A Share Repurchase By a Listed Subsidary under Chapter 14 and Qualification Requirements for Mainland Property Valuers
HKEx published in March 2011 Listing Decision LD6-2011 as to whether the Stock Exchange of Hong Kong (the Exchange) would permit a prior mandate to take the place of a shareholders’ approval on the contractual…
SFC Report on Sponsor Inspection Findings
On March 29 2011 the SFC published its Report on Sponsor Theme Inspection Findings (the Report). The Report is the work of a specialised team (the SFC Team), set up in 2009, which operates as part of the SFC.
SFC Publishes Consultation Conclusions on the Draft Guidelines on Disclosure of Price Sensitive Information
The Securities and Futures Commission published, on 11 February 2011, Consultation Conclusions (the Conclusions) regarding the draft guidelines (the Guidelines) on the disclosure of price sensitive information…
UK Bribery Act 2010 to Come into Force – UK MOJ Publishes Guidance on Adequate Procedures Defence and DPP and SFO Publish Joint Prosecution Guidance
On 30 March 2011 the UK Ministry of Justice published its Guidance (the MoJ Guidance) on procedures which commercial organisations can adopt in order to prevent persons associated with them from committing offences…
HKEx Publishes Listing Decision Regarding Restrictions on Disposal After a Change in Control under Chapter 14 of the Listing Rules
HKEx published in March 2011, a listing decision (HKEx-LD7-2011) on an attempt by a Main Board issuer (“Company A”) to circumvent certain elements of the regulatory regime, set out in Chapter 14 of the Listing…
Companies Registry Implements One-Stop Electronic Incorporation and Business Registration Service
On January 21 2011 the Companies Registry (“CR”) published External Circular No. 1/2011 (“the Circular”), which discussed the coming into effect, on 21 February 2011, of Parts 2 and 5 of the Companies Amendment…
HKEx Issues New Guidance on the Requirements for the Publication of Overseas Regulatory Announcements
On 21 January 2011 the Stock Exchange of Hong Kong (the “Exchange”) published a guidance letter (the “Guidance Letter”) on the new requirements for the publication of overseas regulatory announcements under Main…
Mixed Media Offers allow Paper Application Forms with Electronic Prospectuses
The Hong Kong Stock Exchange has published materials on its website in relation to the “Mixed Media Offer” (“MMO”) framework which came into effect from 1 February 2011. A Mixed Media Offer is an offer procedure…
SFC Publishes Consultation Conclusions on the Evidential Requirements under the Securities and Futures Professional Investor Rules
The Securities and Futures Commission (“SFC”) published on 23 February 2011 Consultation Conclusions regarding proposals to refine the requirements for evidencing whether a person qualifies as a high-net-worth…