Share This: Top stories HKEX review: ESG reports disclosure HKEX published a report on its review of issuers’ ESG reports for 2021 year-end (Announcement; full report) It focuses on new ESG requirements which came into effect in July 2020: (i) board governance of ESG, (ii) climate disclosure, (iii) “Social” issues, (iv) reporting practices. Firstly, HKEX noted good progress […]
Share This: Top stories HKEX: (NEW) Guide on Cooperation and updated Sanctions Statement HKEX published (1) new Guidance Note on Cooperation (“Cooperation Guide”), (2) revised Enforcement Sanctions Statement (“Updated Sanctions Statement”). Its Enforcement Policy Statement has also been updated to include links to these documents. (Press release) The Cooperation Guide clarifies HKEX’s expectations on co-operation. It […]
Share This: Top stories HKEX Enforcement Bulletin: record keeping (i) HKEX published its latest Enforcement Bulletin, with a theme of the significance of good record keeping by issuers as well as directors. In addition to corporate governance and audit purposes (e.g. lack of documentation on valuation of assets may lead to modified audit opinion), good […]
Share This: Top stories HKEX consultation conclusions on revision of share schemes rules (i) HKEX published consultation conclusions on proposed amendments to Listing Rules relating to share schemes. The proposals are largely adopted, effective from 1 January 2023 (“effective date”). (Press release, full report, FAQ) Firstly, Chapter 17 of the rules will be extended to […]
Share This: Top stories ESG: further developments in HK (i) HKEX stated in its latest Listing Newsletter that the forthcoming global sustainability reporting standards on climate disclosures (developed by International Sustainability Standards Board, “ISSB”) will form part of its review of the ESG reporting framework later this year. Building on TCFD recommendations, the new ISSB standards […]
Share This: Top stories HKEX newsletter: observations on AGMs HKEX’s latest Listed Issuer Regulation Newsletter covers various themes relevant to listed issuers, e.g. convening general meetings, new disclosure requirements in AGM circular. HKEX noted that in Feb 2022, some issuers who had planned and announced annual general meetings had to alter their arrangements due to […]
Share This: Top stories Directors’ duties HKEX censures Hsin Chong Group Holdings Limited (now delisted) and named former executive director (“ED”), criticises other named former EDs and non- executive directors, also directs directors to attend training on Listing Rules compliance. (Announcement; Statement of Disciplinary Action) In light of former ED’s wilful failure to discharge his […]
Share This: Top stories HKEX case on directors’ duties HKEX imposes a “Prejudice to Investors’ Interests” statement (“PII Statement”) against the former chairman and an independent director (“INED”) of National Investments Fund limited, censures its named executive directors and INEDs, and directs some directors to attend training on Listing Rules compliance. (Announcement; Statement of Disciplinary […]
Share This: Top stories HKEX Enforcement Bulletin: internal controls guidance HKEX published its latest Enforcement Bulletin, with internal controls as its theme. First of all, the board is responsible for appropriate and effective internal controls, with directors having collective and individual responsibilities. This is despite the fact that the audit and risk committees may […]
Share This: Top stories HKEX review: annual reports disclosure HKEX published a report on its review of issuers’ annual reports for 2020 year-end. (Announcement; full report) Scope: (i) thematic review of selected areas/ disclosure, (ii) thematic review of selected issuers (this issue: newly-listed; biotech companies); (iii) financial statements review; (iv) rule compliance. A high level […]
