Hong Kong’s Securities and Futures Commission (the SFC) has warned unlicensed virtual asset trading platforms (VATPs) of the potential legal and regulatory consequences of false claims to have applied for SFC-licensing, and providing prohibited services, such as staking. The SFC’s Warning – Virtual asset trading platforms engaging in improper practices – also warns investors of […]
Hong Kong SFC Consults on Takeovers and Share Buy-backs Code Amendments
The Hong Kong Securities and Futures Commission (the SFC) is consulting on amendments to its Codes on Takeovers and Mergers and Share Buy-backs (the Hong Kong Takeovers Code) which are set out in its Consultation Paper on the proposed amendments to the Codes on Takeovers and Mergers and Share Buy-backs published on 19 May 2023. The proposed changes involve […]
Webinar | A Tale of Three Cities: Abu Dhabi, Dubai and Hong Kong SAR June 1st
Please join us on 1 June 2023 at 3pm HK time (11am UAE time) when Charltons and Alsuwaidi & Company will be hosting a webinar entitled “A Tale of Three Cities: Overview of the legal systems of Abu Dhabi, Dubai and Hong Kong”. We will be joined by the managing partner of Alsuwaidi & Company, […]
SFC and CSRC Hold High-Level Enforcement Cooperation Meeting
On 25 November 2022, the Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) held the 13th Mainland and Hong Kong high-level meeting on enforcement cooperation. The SFC’s news release is available here. The SFC and the CSRC, in addition to briefing on recent enforcement outcomes and cooperation, reached a consensus regarding […]
New HKEX Listing Rules on Listed Issuers’ Share Schemes to Take effect 1 January 2023
n 29 July 2022, The Stock Exchange of Hong Kong Limited (the HKEx) published consultation conclusions on Proposed Amendments to the Listing Rules relating to Share Schemes of Listed issuers and Housekeeping Rule Amendment (the Consultation Conclusions). The HKEx had previously issued the Consultation Paper on Proposed Amendments to Listing Rules relating to Share Schemes of Listed Issuers1 in October 2021 on […]
The Digital Asset Executive Order identifies six key risks relating to digital assets: Financial risks – without sufficient oversight and standards, there is a risk of inadequate protections for sensitive financial data, custodial and other arrangements relating to customer assets and funds, and insufficient disclosure of the risks of investing in digital assets. Systemic risk […]
HKEX Corporate Governance Code and Listing Rule Changes Effective 1 Jan 2022
On 10 December 2021, the Stock Exchange of Hong Kong Limited (the HKEX) published conclusions to its consultation on enhancing listed companies’ corporate governance practices and reporting1. The HKEX received 214 submissions which were generally supportive of strengthening board independence and promoting better gender diversity on company boards. However, respondents had diverse views on proposals regarding […]
HKEX Corporate Governance Code and Listing Rule Changes Effective 1 Jan 2022
On 10 December 2021, the Stock Exchange of Hong Kong Limited (the HKEX) published conclusions to its consultation on enhancing listed companies’ corporate governance practices and reporting1. The HKEX received 214 submissions which were generally supportive of strengthening board independence and promoting better gender diversity on company boards. However, respondents had diverse views on proposals […]
The HKEX’s new listing regime allowing SPACs to list on the Main Board of the Hong Kong Stock Exchange will take effect on 1 January 2022 under amendments to the HKEX Listing Rules, including new Chapter 18B on SPAC listings, published in the HKEX’s “Consultation Conclusions on Special Purpose Acquisition Companies” on 17 December 20211. […]
On 17 December 2021, the Stock Exchange of Hong Kong Limited (“HKEX”) published conclusions to its consultation on creating a listing regime for special purpose acquisition companies (“SPACs”) in Hong Kong (the “HKEX SPAC Consultation Conclusions”) with the relevant amendments to the Rules Governing the Listing of Securities on HKEX to take effect on 1 […]
On 29 October 2021, Hong Kong’s Securities and Futures Commission (the “SFC”) released its consultation conclusions1 (the “Consultation Conclusions”) on (i) the conduct requirements for Hong Kong bookbuilding and placing activities in equity capital market and debt capital market transactions; and (ii) the HKEx “sponsor coupling” rules to require at least one overall coordinator to […]
On 19 November 2021, Hong Kong’s Independent Commission Against Corruption (the “ICAC”) charged four individuals with conspiracy to defraud The Stock Exchange of Hong Kong Limited (the “HKEX”), Main Board-listed Asia Resources Holdings Limited (“Asia Resources”), and its board of directors and shareholders for concealing or failing to disclose a “backdoor listing” agreement when placing […]
