Hong Kong Law
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Hong Kong Listing Rule Changes on Delisting effective 1 August
The Listing Rule changes address concerns about prolonged trading suspensions and as detailed in the Exchange’s Consultation Conclusions on Delisting and other Rule Amendments, adopt the majority of proposals
Virtual Bank Authorisation: HKMA Issues New Guideline
The HKMA published its revised Guideline on Authorization of Virtual Banks intended to encourage virtual banking in Hong Kong. It is one of seven initiatives to move Hong Kong to a “new era of smart banking”.
Hong Kong Stock Exchange Reports on Financial Statements Review 2017
The Hong Kong Stock Exchange released its Financial Statements Review Programme Report 2017 on 1 June 2018. The report sets out key findings on compliance with accounting standards and disclosure requirements.
HKMA Circular on Credit Risk Management for Personal Lending Business
On 9 May 2018, the HKMA issued a Circular on Credit Risk Management for Personal Lending Business, allowing AIs to adopt credit risk management techniques and practices enabled by technology
Securities and Futures Professional Investor Rules Amendments
The amendments allow an individual’s share of a portfolio held in an account jointly owned by the individual with non-associates to be aggregated for the purposes of meeting the professional investor threshold
Corporate misconduct: SFC outlines its regulatory approach
The Regulatory Bulletin gives details of the SFC’s exercise of its powers under the SMLR in order to fulfil its statutory obligation of investor protection in the nine months ended 31 Match 2018.
Listing Rules on Capital Raisings by Listed Issuers Tightened by HKEx
Amended Listing Rules disallow rights issues, open offers and specific mandate placings, individually or when aggregated within a rolling 12-month period, that result in a cumulative material value dilution
SFC Outlined Market Regulation Approach and fined Citigroup
Mr. Brian Ho of the SFC outlined its approach to market regulation in a speech and the SFC reprimanded and fined Citigroup Global Markets Asia Limited HK$57 million for due diligence failures.
Hong Kong Monetary Authority to Launch Pilot Bond Grant Scheme
On 10 May 2018, HKMA issued a circular setting out details of the highly anticipated three-year Pilot Bond Grant Scheme
SFC Guidelines on Online Platforms and Advisory Services
The Guidelines will clarify how SFC-licensed and registered entities should comply in an online environment with the obligation to ensure the suitability of client recommendations and solicitations.
New Rules for Listing Biotech Companies on Hong Kong Stock Exchange
The Hong Kong Stock Exchange (the Exchange) published its Consultation Conclusions on a Listing Regime for Companies from Emerging and Innovative Sectors on 24 April 2018 (Consultation Conclusions)
Consultation Conclusions on WVR Listings
The Guidelines will clarify how SFC-licensed and registered entities should comply in an online environment with the obligation to ensure the suitability of client recommendations and solicitations.