Hong Kong Law

HKEX published its March 2023 Enforcement Bulletin emphasising the importance of proper disclosure by listed issuers and their directors and the consequences of providing misleading or incomplete information.

The SFC issued new guidance for H share issuers following the announcement of New PRC Regulations for overseas listings and repeal of the Special Regulations and Mandatory Provisions effective 31 March 2023

On 31 March 2023, new Chapter 18C of the HKEX Listing Rules and and Guidance Letter HKEX- GL115-23 took effect allowing Specialist Technology Companies to list on the HKEX’s Main Board

HKEX published a Consultation Conclusions on the new listing regime for Specialist Technology Companies on the Main Board effective 31 March 2023, with reduced market capitalization thresholds

The report concludes that by connecting international investors to China’s carbon markets, Hong Kong could play a superconnector role linking investors with carbon projects

HKEX will amend its Listing Rules for PRC incorporated issuers to reflect recently announced changes to China’s regulation of overseas listings by domestic companies

The SFC proposes new regulatory requirements for Hong Kong licensed VA trading platform operators and seeks feedback on whether they could offer services to retail investors, subject to additional requirements

HKEx published its 7th Listed Issuer Regulation Newsletter covering amendments to the HKEx Listing Rules on share option and share award schemes and financial year-end reporting and AGMs

Under the Companies (Amendment) Ordinance 2023, companies incorporated in Hong Kong will be able to hold fully virtual or a hybrid mode of virtual and physical general meetings

On 31 January 2023, the HKMA published its Consultation Conclusions on proposals to regulate payment-related stablecoins set out in its Discussion Paper on Crypto-assets and Stablecoins published a year earlier

All fundraising activities, online or offline, that raise funds publicly from individuals or entities of Hong Kong, or individuals or entities located in Hong Kong, would require prior approval

The scope of stocks eligible for Southbound trading will be expanded to include the stocks of international companies that are primary-listed in Hong Kong and are constituents of Hang Seng Composite Indices