Hong Kong Securities and Futures Commission

News & Analysis as of

Audit Firm Ordered To Disclose PRC Working Papers To SFC Despite PRC "State Secrets Law" Concerns

On 23 May 2014, the Securities and Futures Commission of Hong Kong ("SFC") successfully obtained an order from the High Court of Hong Kong requiring Ernst & Young Hong Kong ("E&Y") to produce all audit working papers prepared...more

Key issues for asset managers in 2014

In this newsletter - U.S.: - Dodd-Frank Act – Designation of asset managers as systemically important financial institutions - Volcker Rule finalised with a more limited application to covered fund activities...more

Hong Kong Securities and Futures Commission Consults Public on Proposed REIT Code Amendments

Recognizing the recurrent income generating product nature, the SFC may lift some restrictions on investment scope for Hong Kong listed REITs. On 27 January 2014, the Securities and Futures Commission (SFC) commenced...more

A new era for overseas listings in Hong Kong - Part Two

This eUpdate is the second in a two part series examining the effect of the changes under the “Joint policy statement regarding the listing of overseas companies” on the Exchange (the New JPS) released in late September by...more

Hong Kong Capital Markets Quarterly News -- October 2013

In This Issue: New Sponsor Regime – Guidance Letters; Policy on Listing Overseas Companies; New Listing Decisions; New Guidance Letters; and Enforcement News Excerpt from New Sponsor Regime – Guidance Letters:...more

"Hong Kong Stock Exchange and SFC Release New Joint Policy Statement on Listing of Overseas Companies in Hong Kong"

Introduction - In March 2007, The Stock Exchange of Hong Kong Limited (the HKEx) and the Securities and Futures Commission of Hong Kong (the SFC) issued a joint policy statement on the listing of overseas companies in...more

Asia: Corporate Newsletter - August 2013

Listing rule changes regarding the new IPO sponsors regime - The much anticipated new regulatory regime for IPO sponsors will come into effect this October. Details of the reforms under the new regime have been...more

Hong Kong Stock Exchange Revises Listing Rules to Implement New Regime for Hong Kong IPOs

Overview In December 2012, the Securities and Futures Commission of Hong Kong (SFC), the securities regulatory watchdog in Hong Kong, initiated a new sponsor regime by imposing enhanced conduct requirements on...more

Update on the Hong Kong-PRC Mutual Fund Recognition Scheme

It has been a busy summer for securities regulators in Hong Kong and on the Mainland. Recent press coverage indicates that the regulators are closer now to making the Mutual Fund Recognition Scheme (the “Scheme”) a reality,...more

Hong Kong Stock Exchange Publishes Rule Changes to Complement SFC’s New Sponsor Regime

On July 23, 2013, the Hong Kong Stock Exchange published changes to its Listing Rules which complement the SFC’s new regime regarding sponsors. Both sets of changes will come into effect on October 1, 2013, except for two of...more

Hong Kong Capital Markets Quarterly News -- July 2013

In This Issue: Consultations; New Listing Decisions; Regulatory Watch; New Guidance Letters; and Enforcement News. Excerpt from Consultations - Exchange’s Consultations on Review of Connected Transaction...more

Outline of the Hong Kong Stock Exchange Rule Changes to Complement New Sponsor Regulations

On July 23, 2013, the Stock Exchange of Hong Kong Limited (the Exchange) published amendments to the rules governing the listing of securities on the exchange (the Listing Rules) and issued additional guidance to complement...more

"Hong Kong Public M&A: Time for a New Approach?"

For any potential bidder considering the acquisition of a listed company, issues such as ease of transaction execution, the ability to respond to a competing offer, timetable and cost will be of great importance. The chosen...more

Hong Kong-China Mutual Funds Recognition Passport

Since a public statement by the Hong Kong Securities and Futures Commission (SFC) in January regarding the new Hong Kong-China Mutual Funds Recognition Passport scheme, there have been no additional formal announcements by...more

Tiger Asia Case – Hong Kong Regulators Take Insider Dealing Enforcement to New York Fund

The Securities and Futures Commission (the SFC), Hong Kong’s principal securities regulator, won a significant victory this past April in a long-running, high-profile case against New York hedge fund Tiger Asia Management LLC...more

Hong Kong – Applying Securities Laws to Sales of Hotel Units

In a move that represents a first in Hong Kong, one of the territory's largest listed property developers, Cheung Kong (Holdings) Limited and certain of its subsidiaries have entered into an agreement with the Securities and...more

E&Y “State Secrets” Case Kicks Off in Hong Kong – But a Long Way to Go

Evidence kicked off last week on March 27-28, in the highly anticipated case brought by Hong Kong's Securities and Futures Commission ("SFC") against Ernst & Young Hong Kong ("E&Y") over its failure to adequately respond to...more

Hong Kong Capital Markets Quarterly News -- February 2013

In This Issue SFC’s Consultation Conclusions on Regulation of Hong Kong IPO Sponsors; Statutory Obligation to Disclose Inside Information now Effective; SFC Review of the Exchange’s 2011 Performance; Consultation...more

Financial Services Quarterly Report - Fourth Quarter 2012

In This Issue: - Hong Kong SFC Report on Selling Practices - Mandatory Clearing of OTC Derivatives: Intersections Between U.S. and Hong Kong Law - New EU Transparency Regime for Short Positions - Oversight...more

Consultation Conclusions on the Regulation of Hong Kong IPO Sponsors – The Top Five Things You Need to Know

On December 12, 2012, the Securities and Futures Commission (SFC) published its eagerly anticipated consultation conclusions concerning the regulation of IPO sponsors (the “Consultation Conclusions”). While a more detailed...more

Hong Kong Capital Markets Quarterly News -- July 2012

In This Issue: SFC Notes Poor Quality Listing Applications; Regulation of Sponsors in Hong Kong; Class Action Reform; New Listing Decisions; New Guidance Letters; Enforcement News; and Regulatory Watch. Excerpt...more

SFC Looks to Enhance the Regulation of Sponsors in Hong Kong

Potential Civil and Criminal Penalties under Consideration Against a background where Hong Kong has been the world’s leading IPO center for the third year in a row, the Hong Kong Securities and Futures Commission (SFC)...more

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