Hong Kong Law
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New Anti-Money Laundering and Counter-Terrorist Financing Requirements for SFC Licensed Corporations
New statutory customer due diligence (CDD) and record-keeping obligations for financial institutions were implemented by the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance…
Hong Kong Stock Exchange Issues Guidance Letter on Disclosure of Use of Proceeds in New Applicants Listing Documents
In April 2012, the Stock Exchange of Hong Kong Limited (Exchange) issued a guidance letter (HKEx-GL33-12) (Guidance Letter) on the disclosure of the intended use of proceeds by new applicants in listing documents…
Hong Kong Stock Exchange Publishes Guide to Connected Transaction Rules
On 20 April, The Stock Exchange of Hong Kong Limited (HKEx or the Exchange) published a plain language guide to the requirements for connected transactions (including continuing connected transactions) set out in the…
Hong Kong Stock Exchange Publishes Guidance Letter on the Accounting and Disclosure Requirements for Acquisitions of Subsidiaries and Businesses Conducted During Or After the Trading Record Period
The Stock Exchange of Hong Kong (Exchange) published on 28 March 2012 a guidance letter (HKEx-GL32-12) on the accounting and disclosure requirements for subsidiaries and businesses acquired or agreed/proposed to…
Amendments to the Takeovers Code
On 23 March 2012, the Securities and Futures Commission (SFC) released its consultation conclusions (Conclusions) on the amendments to the Codes on Takeovers and Mergers and Share Repurchases (the Takeovers Code)…
SFCs New Short Position Reporting Regime Expected
On 10 February 2012, the Securities and Futures Commission (SFC) published its Conclusions to the Further Consultation on the Securities and Futures (Short Position Reporting) Rules (the Conclusions). The Conclusions…
Hong Kong Stock Exchange Publishes Two Listing Decisions on Rights Issues
On 29 February 2012, the Stock Exchange of Hong Kong (HKEx) published two listing decisions in relation to rights issues. The first confirmed that a PRC issuer’s issue of rights shares under a general mandate was…
Hong Kong Stock Exchange Publishes Revised Guidance on Prospectuses Issued Within 3 Months of the Issuers Financial Year End
The Exchange published an updated guidance letter (HKEx-GL25-11) on 10 November 2011 setting out revised conditions for waivers from strict compliance with the requirement to include three years’ financial statements…
Hong Kong Stock Exchange Repeals Listing Rule Ban on Inclusion of Profit Forecasts in pre-Listing Research Reports Unless Also Included in Listing Document
The Hong Kong Stock Exchange has published on its website an amendment to the Main Board Listing Rules repealing Rule 8.21B with effect from 1 February 2012. Rule 8.21B, which was introduced in 2004, provided that…
Hong Kong Stock Exchange Publishes Consultation Paper on Environmental Social and Governance Reporting Guide
The Stock Exchange of Hong Kong (SEHK or the Exchange) published a consultation paper (the Consultation Paper) in December 2011 to seek views and comments on its proposed Environmental, Social and Governance…
SEHK Recent Publications on Revised Publication Window for Issuers Documents pre-IPO Investments
The Stock Exchange of Hong Kong (SEHK or the Exchange) has recently published the following: A reminder of the revised publication window for issuers’ documents through the HKEx news website effective 5 March 2012…
SFC Consultation on Proposed Amendments to the Code of Conduct
The Securities and Futures Commission (SFC) has published a consultation paper (Consultation Paper) the main focus of which is proposed amendments to the Code of Conduct for Persons Licensed by or Registered with…