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 […]
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 […]
Share This: Top stories AFRC on 2024 year-end audits AFRC published its Audit Focus for 2024 year-end audits, highlighting the need to navigate economic uncertainties and the areas for special attention. (Press release, Report) Examples on economic shifts and impact on financial reporting include: the sluggish property market (hence swings in property valuation), the volatile […]
Share This: Top stories ESG and digitalisation: further progress in HK market (1) ESG: The HK Institute of Certified Public Accountants (HKICPA) published exposure drafts of local sustainability reporting standards, HKFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and HKFRS S2 (Climate-related Disclosures) for public consultation. Consultation closed after 27 Oct. HKICPA is proposing full convergence with ISSB […]
Share This: Top stories HKEX consultation on new phase of paperless reforms HKEX published a consultation paper on proposals to further expand its paperless listing regime and other rule amendments. The consultation period will close after 18 October. (Press release; full document). Our focus is on proposals regarding continuing obligations of issuers of listed equity securities: (Note: […]
Share This: Top stories “Uncertificated Securities Market” will be implemented in 2025 SFC released consultation conclusions on its proposed subsidiary legislation, code and guidelines for implementing an Uncertificated Securities Market regime (“USM”) in HK. (Press Release; Full Document). Subject to the legislative process, the regime will be implemented towards the end of 2025. SFC proposes […]
Share This: Top stories HKEX consults on Corporate Governance Code HKEX published a consultation paper on proposed enhancements to the Corporate Governance Code and related Listing Rules. The consultation period will close after 16 August. (Press release; full document). It is intended that the proposals will come into effect on 1 Jan 2025, and apply to corporate […]
