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Hong Kong Law

April 2011

Best Boutique Firm 2014

Asian Legal Business Awards

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Charltons - Hong Kong Law Newsletter - Issue 120 - 13 April 2011

Report on Sponsor Theme Inspection Findings

Sponsor Due diligence

SFC Hong Kong

Level of regulatory compliance

Listing applicants business

Insufficient due diligence on major business stakeholders

Insufficient due diligence on a material change in business shortly before listing

Insufficient due diligence on third party professional or expert work

Questionable disclosure to the Exchange

Failure to maintain proper documentation of due diligence

Inadequate internal systems and controls over sponsor work
SFC circular on sponsors’ regulatory obligations
Regulatory action against sponsors
SFC liaising with Hong Kong Monetary Authority on bank sponsors
Additional Fit and Proper Guidelines for Corporations and Authorised Institutions applying for or continuing to act as Sponsors and Compliance Advisor