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Jan 24 Legal Update

Share This: Top stories HKEX review: annual reports disclosure HKEX published a report on its review of issuers’ annual reports for 2022 year-end.  (Press release; report) HKEX followed a “thematic approach” as in the past, selecting a number of specific areas for review. These include financial reporting and controls, material asset impairments (including loan impairments), […]

Nov/Dec 23 Legal Update

Share This: Top stories HKEX review: corporate governance disclosure HKEX published a report on its analysis of issuers’ corporate governance practice disclosure for 2022 year-end (“HKEX CG review”) , and “A Snapshot of INEDs Roles and Responsibilities” (“HKEX INED Guide”). (Press release)   (A) HKEX CG Review It focuses on new requirements under the updated […]

Sept/Oct 23 Legal Update

Share This: Top stories HKEX Guidance   (A) HKEX published Guidance Letter (GL 116- 23) on Disclosure of the basis of consideration and business valuations in notifiable transactions. Valuation in transactions and directors’ duties is a recurring theme of regulators. It was addressed in HKEX’s recent Enforcement Bulletin. (See our May/June 23 update) (Background:  in […]

July/Aug 23 Legal Update

Share This: Top stories Privacy Commission’s new Guidance on handling data breach   The Privacy Commissioner on Personal Data published an article promoting the Commission’s new “Guidance on Data Breach Handling and Data Breach Notifications”.  (Article, Press Release, Guidance Note) In light of the increase (by 20%) in data breach reported to it during 1H, […]

May/June 23 Legal Update

Share This: Top stories HKEX Listed Issuer Newsletter; new global ISSB sustainability standards   (i) HKEX published its latest Listed Issuer Newsletter, with useful observations on disclosure of business valuations in transactions, and compliance with new Listing Rules on share schemes. It also addresses issues relating to change in auditors. Firstly, as regards disclosure of […]

Apr 23 Legal Update

Share This: Top stories HKEX consultation on climate-related disclosures      HKEX published a consultation paper on proposals to enhance climate-related disclosures under the ESG framework (Appendix 27). It proposes to (i) make such disclosures in ESG reports mandatory, and (ii) introduce new disclosures aligned with the International Sustainability Standards Board (“ISSB”) Climate Standard (ISSB standard expected to […]

Mar 23 Legal Update

Share This: Top stories HKEX Enforcement Bulletin:  disclosure of information  HKEX published its latest Enforcement Bulletin, focusing on “disclosure of information”.  A key theme is “partial truth” disclosures.  HKEX noted instances where an announcement refers only to positive (or bland and neutral) matters, but does not mention other potentially sensitive but material issues. Such omission […]

Feb 23 Legal Update

Share This: Top stories HKEX published updated (i) Guide on General Meetings (ii) relevant FAQ . The updated Guide principally reflects recent amendment of HK Companies Ordinance which now expressly enables companies holding general meetings virtually or in hybrid mode, rather than holding meetings only at physical locations. (Background: see our Jan 23 update) It contains […]

Jan 23 Legal Update

Share This: Top stories HKEX review: annual reports disclosure HKEX published a report on its review of issuers’ annual reports for 2021 year-end.  (Announcement; full report) HKEX followed a “thematic approach” in its review, selecting a number of specific areas for review. The review also assessed issuers’ compliance with annual report disclosure requirements and specific […]

Nov/Dec 22 Legal Update

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 […]