Share This: Top stories HKEX’s latest Listing Regulation and Enforcement Newsletter HKEX addresses various themes, including convertible bond offerings with concurrent share buyback; issuers undertaking securities trading and financial investment activities; non-compliance in material transactions. (HKEX Newsletter) (Note: other themes include: promoting capital efficiency through treasury shares; new company re-domiciliation regime; USM; new corporate governance […]
Share This: Top stories HKEX Guide for revised CG Code HKEX published an updated Corporate Governance Guide for Board and Directors (the “Guide”), FAQs 1.1 and 17.1 to support issuer boards’ application of the revised Corporate Governance Code (effective from the financial year commencing on or after 1 Jul 2025). (Background on revised Code: our Dec […]
Share This: Top stories SFC’s major enforcement efforts SFC’s publication (Enforcement Reporter) highlighted its major enforcement efforts to combat corporate misconduct. Firstly, it introduced a new Market scanning detection model to identify governance red flags for early intervention. The goal is to prevent rather than to discipline. AI-empowered analytics are employed to assess financial disclosures, […]
Share This: Top stories USM: latest developments SFC launched a consultation on proposed limits for 3 types of fees that an approved securities registrar (ASR) may charge investors under the upcoming USM (Uncertificated Securities Market) regime. (Press release, Consultation) Some subsidiary legislation for implementing USM were also gazetted (Press release). (On fees level consultation) SFC […]
Mini survey on AGMs (2025)
This is our third AGM mini-survey, with support from our growing community. Over 120 listed companies joined our survey, with over 30 Hang Seng Index companies (including 75% of those based in HK/Macao).
Survey findings:
– Majority: “physical” meetings
– Many Hang Seng Index cos: “hybrid” meetings (e-voting OR webcast)
– Vast majority: NOT proposing director fee rise
– Signs of board refreshment: majority have only some/or none of 9-year INEDs standing for re-election
– Meeting logistics: majority have refreshment/or souvenir/or both
When compared with the last survey, signs of board refreshment continue to grow. In terms of meeting format, the majority plan to have physical meetings. However, Hang Seng Index companies show an increasing trend to go for “hybrid” meetings (with either e-voting or webcast).
Hong Kong Institute of Certified Public Accountants
Share This: Top stories HKEX conclusions on paperless reforms HKEX published consultation conclusions on proposals to further expand its paperless listing regime and other rule amendments. (Press release; full document). (Background on consultation: our August 24 update) Our focus is on proposals regarding continuing obligations of issuers of listed equity securities. The proposals were adopted with […]
Share This: Top stories Year-end audit (i) (Nov) HKEX published its latest Listed Regulation and Enforcement Newsletter, as re-named after the merger of its Listed Issuer Regulation and Listing Enforcement departments (now as Listing Regulation and Enforcement department). Its themes include reminders on planning for upcoming audit, convertible bond offerings with concurrent share buyback, the […]
Share This: Top stories HKEX consultation conclusions on corporate governance revisions On 19 Dec 2024, HKEX published its consultation conclusions on proposed enhancements to the Corporate Governance Code and related Listing Rules. (Press release; full document). The proposals, as modified in some areas, will be effective from 1 July 2025. They will apply to corporate governance reports […]