Hong Kong Law
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Backdoor Licensing, Managers-In-Charge of Core Functions and the Legal Liabilities of Senior Management
Those who pay for an existing licensed corporation as a “backdoor licence” may not avoid the responsibilities and liabilities. Anyone involved in the management of licensed corporations is liable for breaches.
SFC Publishes Statement on Recent GEM Listing Applications and the Requirement for an Open Market
The SFC has Published a Statement on Recent Applications to List on GEM by way of Placing and Reminds Listing Applicants, Placing Agents and Sponsors of the Requirement for an Open Market
SFC Publishes Consultation on Amendments to the Professional Investor Rules
SFC Publishes Consultation on Amendments to the Professional Investor Rules expanding the definition of Corporate Professional Investors and the Rules’ evidential requirements
Private: European Chamber of Commerce Paper on Hong Kong Fintech
European Chamber of Commerce Publishes Position Paper on Hong Kong Fintech including Key Recommendations on Fintech Development and Encouraging Collaboration Between the European Commission and HK Government
SFC and HKEX Impose New Requirements for Listing Applicants, Sponsors, Underwriters and Placing Agents of GEM IPOs
SFC and Exchange Joint Statement and SFC Guideline Imposes New Obligations on Listing Applicants, Sponsors, Underwriters and Placing Agents of GEM IPOs to Address Price Volatility Concerns
Hong Kong is World’s Top IPO Fundraising Market in 2016 while Listed Debt Turnover Rises 126 percent on 2015
Hong Kong was the world’s largest IPO market in 2016 raising US$25.1 billion in 120 IPOs. Listed debt turnover surged 126% compared to 2015 despite only a small increase in the number of debt issues
SFC Issues New Guidance on Licensed Intermediaries’ Suitability Obligations
SFC Issues New Guidance on compliance with licensed intermediaries’ obligation to ensure the suitability of investment products for clients
New SFC Measures to Increase the Accountability of Licensed Corporations’ Senior Management
SFC Circular Introduces New Measures to Increase the Accountability of Licensed Corporations’ Senior Management and Imposes New Reporting Requirements
SFC Consults on Proposals to Tighten Regulation of Fund Managers and Point-of-sale Disclosure
SFC Consultation Paper Proposes Tightening Regulation of Hong Kong Fund Managers and Increasing their Point-of-Sale Disclosure Obligations – comments should be submitted by 17.02.2017
HKEX Issues Guidance on “Ownership and Control” Requirement for Listing Applicants and Issues Relevant to Controlling Shareholders (HKEx-GL89-16)
New HKEx Guidance Letter GL89-16 clarifies its “controlling shareholder” definition in light of the “ownership continuity and control” requirement and controlling shareholders’ post-listing obligations.
Rights Issues and Open Offers that Significantly Dilute Minority Shareholding Interests Face Closer SFC and HKEx Scrutiny
The Securities and Futures Commission and the Stock Exchange of Hong Kong have said they will pay closer attention to rights issues and open offers that significantly dilute minority interests.
Shenzhen-Hong Kong Stock Connect to Launch on 5 December 2016
Shenzhen-Hong Kong Stock Connect (Shenzhen Connect) launches on Monday, 5 December 2016. Modelled on the Shanghai-Hong Kong Stock Connect scheme (Shanghai Connect) that has been in place since November 2014, …