Corporate services publications

HKSE targets backdoor listing

To address concerns over circumvention of the new listing requirements and “shell creation activities”, the Stock Exchange of Hong Kong Limited (the “HKSE”) published a consultation paper on 29 June 2018 to seek market views on proposed changes to the Listing Rules in relation to (i) backdoor listing; (ii) continuing listing criteria; and (iii) other Rule amendments (the “Consultation Paper”).

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HKSE targets backdoor listing

To address concerns over circumvention of the new listing requirements and “shell creation activities”, the Stock Exchange of Hong Kong Limited (the “HKSE”) published a consultation paper on 29 June 2018 to seek market views on proposed changes to the Listing Rules in relation to (i) backdoor listing; (ii) continuing listing criteria; and (iii) other Rule amendments (the “Consultation Paper”).

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Three new main board chapters by 30 April

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.

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Three new main board chapters by 30 April

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.

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HKSE consults on the listing regime for emerging and innovative companies

HKSE 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 HKSE.

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HKSE consults on the listing regime for emerging and innovative companies

HKSE 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 HKSE.

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Hong Kong trust or company service providers new licensing regime

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.

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Hong Kong trust or company service providers new licensing regime

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.

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HKEX green-lights the listing of pre-revenue Biotech companies and companies with weighted voting rights structure

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.

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HKEX green-lights the listing of pre-revenue Biotech companies and companies with weighted voting rights structure

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.

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HKSE consultation papers on review of CG Code and related Listing Rules, and proposed changes to documentary requirements

HKSE 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

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HKSE consultation papers on review of CG Code and related Listing Rules, and proposed changes to documentary requirements

HKSE 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

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HKEX and HKSE consultation papers on widening capital markets access and strengthening Hong Kong’s listing regime

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”.

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HKEX and HKSE consultation papers on widening capital markets access and strengthening Hong Kong’s listing regime

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”.

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Consultation conclusions on legislative proposals to enhance anti-money laundering and counter-terrorist financing regulation in HK

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).

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Consultation conclusions on legislative proposals to enhance anti-money laundering and counter-terrorist financing regulation in HK

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).

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Consultation paper on enhancing anti-money laundering regulation of designated non-financial businesses and professions

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.

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Consultation paper on enhancing transparency of beneficial ownership of Hong Kong companies

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.

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Consultation paper on enhancing anti-money laundering regulation of designated non-financial businesses and professions

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.

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Consultation paper on enhancing transparency of beneficial ownership of Hong Kong companies

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.

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