The Stock Exchange of Hong Kong Limited (the “Exchange”) published the “Consultation Conclusions on a Listing Regime for Companies From Emerging and Innovative Sectors” (the “Consultation Conclusions”) on 24 April 2018 and announced the implementation of three new chapters which will take effect on 30 April 2018, from which date companies seeking to list under the new regime may submit formal applications.
The Exchange published a consultation paper seeking comments on the proposed amendments to the Main Board Listing Rules to allow the listing of (I) pre-revenue biotech companies; (II) high growth and innovative companies that have weighted voting rights structures; and (III) qualifying issuers seeking a secondary listing on the Exchange.
The Stock Exchange of Hong Kong Limited (the “Exchange”) has recently released “Review of Disclosure in Issuers’ Annual Reports to Monitor Rule Compliance Report 2017” covering listed issuers’ annual reports for financial year ended between January and December 2016.
A new licensing regime will be introduced under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”). With effect from 1 March 2018, a person who carries on a trust or company service business in Hong Kong (“TCSP”) is required to apply for a licence from the Registrar of Companies.
The Companies (Amendment) Ordinance 2018 which introduces new requirements to keep a Significant Controllers Register by companies will come into effect on 1 March 2018.
HKEX published consultation conclusions on the GEM review and changes to the GEM and Main Board Listing Rules on 15 December 2017. Market broadly supported the proposals to (a) re-position GEM as a stand-alone board; and (b) enhance GEM’s admission requirements.
HKEX published New Board Concept Paper Consultation Conclusions on 15 December 2017, and has decided to abandon its earlier plan of setting up a New Board. It will indeed facilitate the listing of the new economy companies through two new chapters in the Main Board Listing Rules for (a) pre-revenue Biotech companies; and (b) innovative and high growth companies with Weighted Voting Rights structure.
SEHK published two consultation papers to seek public views and comments on 1) the proposed changes to the Corporate Governance Code and related amendments to the Listing Rules; and 2) proposed changes to documentary requirements relating to listed issuers and other minor Listing Rule amendments
Joint consultation conclusions have been published by the SFC and SEHK on the proposed structural and procedural enhancements to the way in which listing regulation is carried out.
Public comments and feedback are invited on the proposed “New Board Concept Paper” and “The Consultation Paper on the Review of the Growth Enterprise Market (“GEM”) and Changes to the GEM and Main Board Listing Rules”.
Enhancing Hong Kong's regulatory regime for combating money laundering and terrorist financing.
Consultation conclusions have been published by the Financial Services and The Treasury Bureau on their two consultation exercises launched earlier this year to seek views from the stakeholders on a legislative proposal to amend the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap.615) and from members of the public on legislative proposal to amend the Companies Ordinance (Cap.622).
On 13 February 2017, the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 will come into operation.
The main purpose of the consultation paper is to seek views from members of the public on a legislative proposal to amend the Companies Ordinance (Cap.622) and enhance the transparency of beneficial ownership of Hong Kong companies in an effort to meet prevailing international standards on combating money laundering and terrorist financing.
The purpose of the consultation paper is to seek views from the stakeholders on a legislative proposal to amend the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap.615), requiring designated non-financial businesses and professions to conduct customer due diligence when they engage in specified transactions.
Green light for open-ended fund companies in Hong Kong - law enacted