Hong Kong Law
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SFC and HKMA Issue Joint Circular on Intermediaries’ Virtual Asset-related Activities
The SFC/HKMA circular of 28th January 2022 sets out guidance for intermediaries distributing virtual asset-related products or providing virtual asset dealing or advisory services
HKMA Issues Proposals for Regulating Payment-related Stablecoins
On 12 January 2022, the HKMA published a Discussion Paper on Crypto-assets and Stablecoins seeking views on proposals to regulate various activities in payment-related stablecoins
HKEX’s New Listing Regime for Overseas Issuers Effective 1 January 2022
Revised HKEX Listing Rules took effect on 1 January 2022 simplifying the listing regime for companies incorporated outside Hong Kong and the PRC and extending opportunities for Chinese homecoming listings.
HKEX Corporate Governance Code and Listing Rule Changes Effective 1 Jan 2022
Corporate Governance Code and related Listing Rule amendments took effect on 1 January 2022, while a requirement to appoint a new INED if issuers’ INEDs have all served 9 years takes effect on 1 January 2023.
Overview of HKEX’s New SPAC Listing Regime
HKEX’s new listing regime allowing SPACs to list on the HKEX’s Main Board will take effect on 1 January 2022 under amendments to the HKEX Listing Rules, including new Chapter 18B on SPAC listings
HKEX Publishes Consultation Conclusions on Hong Kong SPACs
On 17 December 2021, the Stock Exchange of Hong Kong Limited (HKEX) published conclusions to its consultation on creating a listing regime for special purpose acquisition companies (SPACs) in Hong Kong (the HKEX SPAC Consultation Conclusions) with the relevant amendments to the Rules Governing the Listing of Securities on HKEX to take effect on 1 January 2022 (the HKEX SPAC Rules)
SFC Releases Consultation Conclusions on the Proposed Code of Conduct on Hong Kong Bookbuilding and Placing Activities and HKEx Sponsor Coupling
On 29 October 2021, the SFC published its consultation conclusions on the proposed code of conduct on Hong Kong bookbuilding and placing activities and HKEX sponsor coupling.
Hong Kong ICAC charges 4 individuals with conspiracy to defraud over “backdoor listing” of a listed company and money laundering
The ICAC charged four individuals with conspiracy to defraud for concealing a “backdoor listing” agreement when placing convertible notes to increase Asia Resources’ share capital and money laundering
SFC’s Julia Leung Gives Update on Hong Kong Crypto Regulation
The SFC is considering whether retail investors should be given access to crypto ETFs through online brokers, and if so, whether the SFC should impose additional knowledge requirements or risk disclosures.
Hong Kong SFC Fines IPO Sponsors for Due Diligence Failures
The SFC fines two sponsors in their respective breaches of their sponsor due diligence obligations for failing to conduct adequate due diligence of third-party payments which the SFC maintained raised red flags
Charltons on behalf of 7 corporate finance firms responds to HKEX SPAC Consultation
Charltons on behalf of 7 corporate finance firms submitted responses to the HKEX consultation paper on listing SPACs in Hong Kong.
HKEX Issues Consultation Paper on SPACs
The HKEX published a consultation paper on the proposed Hong Kong SPAC listing framework, which will allow SPACS and more companies from Greater China, Southeast Asia and beyond to seek a listing on HKEX.