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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
