financial regulatory

Joint statement on IPO-related misconduct
Joint statement on IPO-related misconduct 1920 1080 Hauzen LLP
On 20 May 2021, SFC and HKEx issued a joint statement setting out the general approach taken by them to address regulatory issues formed in recent new listings.  The statement described how the regulators would deploy their respective powers under the SFO, the SMLR and the Listing Rules to tackle issues that mainly involved suspected arrangements to artificially satisfy the initial listing requirements, or facilitate market manipulation of the shares after the IPO.

Market Misconduct Tribunal sanctions China Medical & HealthCare Group Limited and its directors for late disclosure of inside information
Market Misconduct Tribunal sanctions China Medical & HealthCare Group Limited and its directors for late disclosure of inside information 1920 1080 Hauzen LLP
On 12 May 2021, MMT fined China Medical & HealthCare Group Limited, formerly known as COL Capital Limited, and six of its former and current directors a total of $4.2 million for failing to disclose inside information as soon as reasonably practicable following proceedings brought by the SFC.

HKEx’s disciplinary action against China Tangshang Holdings Limited and its executive directors
HKEx’s disciplinary action against China Tangshang Holdings Limited and its executive directors 1920 1080 Hauzen LLP
On 14 April 2021, The Listing Committee of the HKEx took disciplinary action against China Tangshang Holdings Limited and its executive directors.

HKEx Publishes Consultation Paper on Review of Corporate Governance Code and Related Listing Rules
HKEx Publishes Consultation Paper on Review of Corporate Governance Code and Related Listing Rules 1400 788 Hauzen LLP
On 16 April 2021, HKEx published a consultation paper outlining proposed enhancements to the CG Code, as well as related amendments to the Listing Rules.

Legislative Council Panel on Financial Affairs discussed the Protection of Personal Information on the Companies Register
Legislative Council Panel on Financial Affairs discussed the Protection of Personal Information on the Companies Register 1920 1080 Hauzen LLP
On 9 April 2021, the Legislative Council Panel on Financial Affairs discussed the proposed implementation of a new inspection regime for the Companies Register.

HKEx publishes Guidance Letter on Pre-vetting for placing to connected clients in an IPO
HKEx publishes Guidance Letter on Pre-vetting for placing to connected clients in an IPO 1920 1080 Hauzen LLP
In March 2021, HKEx published a Guidance Letter on pre-vetting for placings to connected clients in IPO

SFC, HKEx Directed to Explore SPAC Listings in Hong Kong
SFC, HKEx Directed to Explore SPAC Listings in Hong Kong 1920 1080 Hauzen LLP
March 2021, SFC and HKEx briefed a forum of top financial leaders in Hong Kong about the latest developments in Special Purpose Acquisition Companies (SPACs)

HKEx Updates Guidance Letter for Biotech Companies
HKEx Updates Guidance Letter for Biotech Companies 1920 1080 Hauzen LLP
February 2021, HKEx updated its guidance letter related to disclosure in listing documents of biotech companies.

HKEx Conclusions on Paperless Listing & Subscription Regime, Online Display of Documents, Reduction of Types of Documents on Display
HKEx Conclusions on Paperless Listing & Subscription Regime, Online Display of Documents, Reduction of Types of Documents on Display 1920 1080 Hauzen LLP
HKEx will adopt all the proposals outlined in the consultation paper with several minor modifications as set out in the Consultation Conclusions.

SFC and FRC conclude MOU to strengthen regulation of capital markets
SFC and FRC conclude MOU to strengthen regulation of capital markets 1402 790 Hauzen LLP
SFC and FRC entered into new MOU for enhanced cooperation measures for regulation of PIE Auditors and the compliance by listed entities of regulatory requirements in financial reporting
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