SFC Imposes Record Fines for Sponsor Failures

The Securities and Futures Commission (SFC) has reprimanded and imposed record fines totalling HK$ 786.7 million on four investment banks for IPO due diligence failures in their sponsorship of applications to list on the Hong Kong Stock Exchange. UBS AG and UBS Securities Hong Kong Limited (UBS), Standard Chartered Securities (Hong Kong) Limited (Standard Chartered), […]

Julia CharltonPartner, Charltons

HKEx Listing Rule Amendments Take Effect on 1 March 2019

Amendments to the Listing Rules of the Stock Exchange of Hong Kong Limited (HKEx) took effect on 1 March 2019 changing the documentary requirements for listing applicants and listed companies and making other minor housekeeping amendments. HKEx published its Consultation Conclusions on Proposed Changes to Documentary Requirements and other Minor Rule Amendments (Consultation Conclusions) on […]

Julia CharltonPartner, Charltons

Statement on Security Token Offerings Published by Hong Kong’s SFC

Hong Kong’s Securities and Futures Commission (SFC) issued a Statement on Security Token Offerings on 28 March 2019, reminding market participants of the regulatory requirements applicable to security token offerings, generally known as STOs. The statement also reiterates the SFC’s earlier warnings to the public of the potential risks involved in investing in digital assets […]

Julia CharltonPartner, Charltons

Hong Kong Consults on Paperless Securities Market

On 28 January 2019, the Securities and Futures Commission (SFC), Hong Kong Exchanges and Clearing Limited (HKEX) and the Federation of Share Registrars Limited (FSR) released a joint consultation paper on a new mechanism for implementing an uncertificated securities market regime in Hong Kong (Consultation Paper).  Read More… Hong Kong Law Newsletter | Chartlons

Julia CharltonPartner, Charltons

New Licensing Forms and Mandatory Electronic Filings Required by the SFC

Starting from 11 April 2019, the Securities and Futures Commission (SFC) will require licensing applications to be made with new licensing forms, and annual returns and notifications to be submitted electronically through the SFC Online Portal. The SFC’s Licensing Handbook has been updated accordingly. Read More… Hong Kong Law Newsletter | Charltons

Julia CharltonPartner, Charltons

SFC Publishes Consultation Conclusions on OTC Derivatives and Conduct Risks

Introduction On 12 December 2018, Hong Kong’s securities regulator, the Securities and Futures Commission (SFC) issued its consultation conclusions[1] on amendments to the Hong Kong code of conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Hong Kong Code of Conduct) to: introduce new requirements on over-the-counter (OTC) derivatives in relation […]

Julia CharltonPartner, Charltons

Amendments to Hong Kong Code on Unit Trusts and Mutual Funds effective 1 January 2019

Introduction On 6 December 2018, Hong Kong’s Securities and Futures Commission (SFC) released its consultation conclusions[1] to its consultation[2] on proposed amendments to the Hong Kong Code on Unit Trusts and Mutual Funds (Hong Kong Code on Unit Trusts). The amendments are aimed at updating the regulatory regime for SFC-authorised funds and addressing the risks […]

Julia CharltonPartner, Charltons