HONG KONG: Consultation conclusions published on Hong Kong major shareholdings exemptions

Thursday August 28 2014

Further to the update of 18th June 2014, the Hong Kong Securities and Futures Commission has published consultation conclusions to its public discussion on exemptions from the Hong Kong major shareholdings rules under the Securities and Futures Ordinance.

The proposed amendments would provide two additional categories for exemption under the Guidelines to cover participants of The Stock Exchange of Hong Kong Limited (SEHK) as well as clearing participants of a recognized clearing house that are themselves clearing houses.

The changes are proposed with reference to market participants involved in Shanghai-Hong Kong Stock Connect.

Respondents welcomed and were supportive of the proposed changes to the Guidelines.

Having considered the comments received and consulted the Financial Secretary, the SFC has concluded that the proposed amendments to the Guidelines be adopted as set out in Appendix B of the conclusions. Two minor drafting revisions have been made to the proposed amendments.

The revised Guidelines will be published in the Government Gazette and will come into effect on 5 September 2014.

Click on the above link for the consultation conclusions.