Friday December 13 2013
News Source: Global Exchanges
Focus: Stock Exchange Regulation
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/web/EN/files/ER/PDF/Speeches/Carlson%2020131212.pdf
The Securities and Futures Commission (SFC) will take a broader and more proactive approach in overseeing corporate conduct of listed companies, the SFC’s Chairman has announced.
This will mean more surveillance, analysis and enforcement work and Mr Tong has said this approach stems from market concerns over cases of serious corporate misconduct in listed companies and how it can be detected at an early stage to reduce damage to the market and the investing public.
To this end, the SFC has set up a dedicated corporate regulation team to review company announcements, circulars and reports; conduct periodic in-depth reviews of each company and adopt risk-based criteria to focus on particular companies including those with history of losses or frequent restructuring.
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