Hong Kong Law
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HKEx Publishes Consultation Conclusions on Proposal to Permit Corporate WVR Beneficiaries
HKEx published conclusions to its consultation on corporate WVR beneficiaries with plans to allow Greater China Issuers meeting certain criteria as Qualifying Corporate WVR Issuers to secondary list under Ch.19C.
Hong Kong SFC Reprimands and Fines Goldman Sachs US$350 million
Hong Kong’s SFC reprimanded and fined Goldman Sachs US$350 million for serious regulatory failures that led to the misappropriation of US$2.6 billion in connection with the 1MBD bond transactions.
HKEx Publishes Consultation Conclusions on Codification of General Waivers Relating to IPOs and Listed Issuers and Minor Rule Amendments
The HKEx published the consultation conclusions on the codification of general waivers and principles relating to IPOs and listed issuers in addition to other minor rule amendments.
SFC Consults on Changes to AML and CFT Guidelines for Licensed Corporations
On 18 September 2020, the SFC published a Consultation Paper on proposals to amend its Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (for Licensed Corporations).
Changes to Hong Kong’s Open-ended Fund Companies Regime Take Effect 11 September 2020
Changes to Hong Kong’s private open-ended fund companies regime took effect on 11 September 2020 removing all investment restrictions on private OFCs and enabling Type 1 licensees to act as their custodians.
HKEx Consults on Listing Rule Amendments to Increase its Disciplinary Powers and Sanctions
HKEx is consulting on Listing Rule amendments and extending its disciplinary and sanctioning powers under Chapter 2A of the Main Board Listing Rules and Chapter 3 of the GEM Listing Rules.
Amendments to HKEx’s Listing Rules for Debt Issues to Professional Investors to Take Effect on 1 November 2020
Amendments to HKEx’s Listing Rules for debt issues only to professional investors will take effect on 1 November 2020 revising the requirements under Chapter 37 of the Main Board Rules and GEM Chapter 30.
Hong Kong Launches Hang Seng TECH Index
The Hang Seng TECH Index was launched on 27 July 2020 tracking the 30 largest HKEx-listed technology companies including Alibaba, Tencent Holdings, Xiaomi and Meituan Dianping.
HKEx Consults on Paperless Listing and Subscription and Issues New IPO Guidance
HKEx is consulting on paperless listing and subscription, online document display and reducing the documents required to be displayed for notifiable/connected transactions. HKEX-GL86-16 is also updated.
HKEx Publishes Listing Decision 126-2020 with Reasons for Listing Application Rejections
Lack of a commercial rationale for listing was the principal reason for the rejection of 17 listing applications on grounds of lack of suitability for listing under Guidance Letter HKEX-GL68-13A in 2019
Hong Kong Government Introduces Most Restrictive Social Distancing Measures Yet
The Hong Kong Government announced tightened social distancing measures on 27 July which took effect at 0.00 am on Wednesday, 29 July 2020.
New HKEx Guidance for Biotech Companies Listing under Chapter 18A
The Hong Kong Stock Exchange (HKEx) issued new and updated guidance letters in April 2020 to assist pre-revenue Biotech companies applying to list under Chapter 18A of the Main Board Listing Rules.