The amendments, which will become effective from 1 January 2025, aim to reflect the ISSB Climate Standards to the maximum extent possible. In April 2024, the Stock Exchange of Hong Kong Limited (the Exchange) released the...more
The updates include a report from the Stock Exchange of Hong Kong Limited on review of issuers’ annual reports, a summary of private reprimands, and disciplinary actions....more
The Stock Exchange of Hong Kong, the SFC, and the Companies Registry have published key regulatory updates during September and October 2023....more
From 31 March 2023, the listing framework will include innovative companies in frontier industries, creating more opportunities for investors in the Hong Kong capital market. The Stock Exchange of Hong Kong Limited (the...more
中美审计监管合作取得积极进展，消除在美国上市的中概股会被退市摘牌的预期，中概股公司赴美上市重启在望。 2022年12月15日，美国公众公司会计监督委员会（PCAOB）确定其能够获得对位于中国大陆和香港的会计师事务所进行全面检查和调查的权限。此举消除了市场上，对于中概股公司有可能将最早于2023年被禁止在美国交易，以及从美国证券交易所退市的预期。这是近年来，关于中美审计监管的最新积极进...more
The Public Company Accounting Oversight Board (“PCAOB”) announced on December 15, 2022 that it has secured complete access to inspect and investigate audit firms in mainland China and Hong Kong for the first time in history....more
Market capitalisation, research and development investment, and historical financing would be the primary bases for listing such companies under the new proposal. On 19 October 2022, The Stock Exchange of Hong Kong...more
After months of closed-door negotiations, the Public Company Accounting Oversight Board (PCAOB) announced on Friday that it has entered into a Statement of Protocol with the China Securities Regulatory Commission (CSRC) and...more
Hong Kong Exchanges and Clearing Limited (HKEx) signs agreement with MSCI Inc. (MSCI) to license indexes to launch Asia and Emerging Markets futures and options contracts ...more
The new guidance offers improved clarity on disclosure in the prospectus and suitability for listing of biotech companies. Since the implementation of the new listing regime for biotech companies under Chapter 18A of the...more
On 26 July 2019, The Stock Exchange of Hong Kong Limited (HKEx) published conclusions to its consultation paper regarding backdoor listings, continuing listing criteria and other related Listing Rule amendments. The...more
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates. ...more
Historically, the US, and, in particular, the NASDAQ market, has been the predominant place for IPOs of life sciences and healthcare companies. However, 2018 may be the year in which things start to change....more
The Situation: The Hong Kong Stock Exchange’s failure to recognize that investors are able to evaluate biotech companies in the pre-revenue stages, and its consequent refusal to list those companies for trading, is viewed by...more
India is now included as an “acceptable jurisdiction” by The Stock Exchange of Hong Kong Limited (the “HKEx”). The HKEx also published a new “Country Guide – India” (the “India Guide”) relating to India-incorporated issuers....more
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
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
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
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
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
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
Since its first use by Sina Corporation in 2000, the VIE structure has been widely adopted by many Chinese companies to attract foreign investment and complete offshore listings. While companies operating under VIE structure...more
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