Hong Kong Law
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Hong Kong SFC Fines IPO Sponsors for Due Diligence Failures
The SFC fines two sponsors in their respective breaches of their sponsor due diligence obligations for failing to conduct adequate due diligence of third-party payments which the SFC maintained raised red flags
Charltons on behalf of 7 corporate finance firms responds to HKEX SPAC Consultation
Charltons on behalf of 7 corporate finance firms submitted responses to the HKEX consultation paper on listing SPACs in Hong Kong.
HKEX Issues Consultation Paper on SPACs
The HKEX published a consultation paper on the proposed Hong Kong SPAC listing framework, which will allow SPACS and more companies from Greater China, Southeast Asia and beyond to seek a listing on HKEX.
Singapore Exchange Introduces SPAC Listing Framework
The Singapore Exchange (SGX) announced new rules to enable Special Purpose Acquisition Companies (SPACs) to list on the Mainboard. The rules took effect on 3 September 2021.
SFC Publishes Q2 2021 Report
The SFC published its quarterly report for Q2, covering the period April to June 2021, in order to keep stakeholders and the public informed of key regulatory developments
SFC Concludes on Hong Kong Investor Identification Regime and OTC Securities Transactions Reporting Regime
The SFC published its Consultation Conclusions on proposals to introduce an investor identification regime for the Hong Kong securities market and an over-the-counter securities transactions reporting regime
FINI – HKEX’s New IPO Settlement Platform to Implement T+2 IPO Settlement Timetable
Introduction of the new mandatory IPO settlement platform ‘Fast Interface for New Issuance’ (FINI) will settle on the revised “T+2” IPO settlement process and is expected to be launched in the fourth quarter of 2022
SFC to Upgrade Competency Standards for Licensed Intermediaries and Individuals from 1 January 2022
The MRF scheme enables Hong Kong and Thai funds authorised or approved for retail distribution in their home market to be authorised or approved for retail distribution in each other’s markets.
Implementation of Hong Kong-Thailand Mutual Recognition of Funds Scheme
The MRF scheme enables Hong Kong and Thai funds authorised or approved for retail distribution in their home market to be authorised or approved for retail distribution in each other’s markets.
FSTB Concludes Consultation on Registration Regime for Dealers in Precious Metals and Stones
Registrants engaging in cash transactions at or above HK$120,000 will fall under Category B and will need to comply with the AML/CTF obligations stipulated in Schedule 2 to the AMLO
Court Rejects Judicial Review Application to Challenge HKEX Delisting
This is the latest in a line of recent High Court judicial review judgments made in favour of the HKEX which have generally endorsed its delisting procedures and the Listing Review Committee review process
HKEx Listing Rule Changes on Disciplinary Powers and Sanctions effective 3 July 2021
The SFC and HKEX have observed an increasing number of “ramp-and-dump” schemes in recent IPOs, particularly in IPOs of companies with smaller market capitalisations.