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, […]

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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 […]

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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 […]

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Rationale for Digital Asset Regulation

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 […]

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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 […]

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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 […]

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Overview of HKEX’s New SPAC Listing Regime

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. […]

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HKEX Publishes Consultation Conclusions on Hong Kong SPACs

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 […]

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SFC Releases Consultation Conclusions on the Proposed Code of Conduct on Hong Kong Bookbuilding and Placing Activities and HKEx Sponsor Coupling

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 […]

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Hong Kong ICAC charges 4 individuals with conspiracy to defraud over “backdoor listing” of a listed company and money laundering

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 […]

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SFC’s Julia Leung Gives Update on Hong Kong Crypto Regulation

In her keynote address at Hong Kong’s FinTech Week, “Fintech: Metamorphosis of the financial industry”,1 Ms. Julia Leung provided a welcome update on Hong Kong’s regulatory approach to Fintech and the SFC’s latest thinking on Hong Kong crypto regulation. Ms. Leung, the Hong Kong SFC’s Deputy Chief Executive Officer and Executive Director (Intermediaries), noted the […]

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Hong Kong SFC Fines IPO Sponsors for Due Diligence Failures

In October 2021, Hong Kong’s Securities and Futures Commission (SFC) reprimanded and fined two sponsors – Ample Capital Limited (Ample)1 and Yi Shun Da Capital Limited (Yi Shun Da Capital)2 – for their respective breaches of their sponsor due diligence obligations on two separate Hong Kong listing applications. In both cases, the sponsor was found […]

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