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Continued deficiencies in sponsor work identified by SFC
The said deficiencies were especially common for sponsor work done for GEM IPOs. Between October 2013 and December 2017, 44 listing applications were returned or rejected due to concerns raised during the vetting process.
SFC and Exchange sign addendum to MOU Governing Listing Matters
The Addendum arranges for the establishment of a new Listing Policy Panel as a centre point for discussions on listing policy with broader regulatory or market implications.
HK Stock Exchange Consults on Listings of Emerging and Innovative Companies
On 23 February 2018, the Hong Kong Stock Exchange released a Consultation Paper on a Listing Regime for Companies from Emerging and Innovative Sectors, setting out proposals to allow the listing of a broader range of companies.
SFC Fines IBHK concerning Electronic and Algorithmic Trading Systems
The SFC has reprimanded and fined Interactive Brokers Hong Kong Limited for breaches of the Code of Conduct due to deficiencies in executing market orders using electronic and algorithmic trading systems.
SFC Consults on Takeovers Code Changes
The most significant change proposed is to increase the voting approval threshold for whitewash waivers from a simple majority of independent votes to 75%.
HKEx Listing Decisions on Sufficiency of Assets/Operations for Continued Listing
HKEx published listing decisions which dealt with issuer’s sufficiency of level of operations to warrant continued listing, and listed issuer’s ability to meet the new listing requirements after spin-off.
Amendments to HKEx’s Main Board and GEM Listing Rules Take Effect on 15 February 2018
Changes to HKEx’s Main Board and GEM Listing Rules will take effect on 15 February 2018. The changes will raise listing thresholds and impose more onerous requirements for companies transferring to the Main Board from GEM.
HK Exchange to Allow Main Board Listings of Innovative Companies with Weighted Voting Rights and Pre-revenue Biotech Companies
The Hong Kong Stock Exchange published the Conclusions to the New Board Concept Paper (Conclusions) today (Friday 15 December 2017) setting out the steps to be taken to extend the Hong Kong listing regime to allow companies …
HKEx Consults on Documentary Requirements for Listed Issuers
Consultation Paper proposes changes on the declaration and undertaking by directors and supervisors and related matters, listed issuers’ declaration and board resolutions relating to issuance of securities
HKEx Consults on Review of Corporate Governance Code
The Exchange proposes to add to CP A.5.5 a requirement to explain why the INED would be capable of devoting sufficient time to the board if he or she is holding a seventh (or more) listed company directorship.
Consultation Paper on Capital Raisings by Listed Issuers
The SEHK has published a Consultation Paper on Capital Raisings by Listed Issuers to address potential abuse in large, deeply discounted fund raisings and certain share consolidations and subdivisions.
Internet Trading Hacking Risks – New SFC Guidelines
SFC-licensed corporations and SFC-registered banking institutions engaged in internet trading are required to implement 20 baseline requirements to enhance cybersecurity resilience and mitigate hacking risks.