Share This: Top stories Notable SFC enforcement cases (A) Significant compensation and disqualification orders against directors in some recent cases: 1. Superb Summit International case Nature: acquisition of fictitious forestry assets from party connected with a shadow director (holds 22.6% of company) 3 Defendants: shadow director, executive director, CFO and company secretary Compensation order: total […]
Share This: Top stories HKEX published (A) a report on its review of issuers’ annual, corporate governance (CG) and ESG reports for 2024 year-end, (B) (updated) consolidated guide for the preparation of annual reports (HKEX AR Guide), (C) launched HKEX Annual report explorer, providing access to annual report disclosures with an AI-empowered search engine. (Press […]
Share This: Top stories AFRC on 2025 year-end audits AFRC published its Audit Focus for 2025 year-end audits, highlighting the need to navigate the dynamic risk environment of 2025. The challenging economic conditions, coupled with new and increasingly complex business model, present significant challenges for both companies and their auditors. (Report) Our focus is the […]
Share This: Top stories The Privacy Commissioner for Personal Data (PCPD) published 2 investigation reports on data breaches by companies in retail industry: (A) Kwong’s Art Jewellery Trading Company Limited and My Jewelry Management Limited and (B) Adastria Asia Co; Limited. (Press release) (A) Kwong’s Art and (its subsidiary) My Jewellery incident The companies submitted […]
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 […]
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 […]
