Friday June 17 2016
News Source: Global Exchanges
Focus: Listing Rules
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/consultation/openFile?refNo=16CP2
The Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX) have jointly issued a consultation on proposed enhancements to The Stock Exchange of Hong Kong Limited’s (Exchange) decision-making and governance structure for listing regulation.
Under the proposals:
- two new Exchange Committees on which the SFC and the Exchange are equally represented will be established;
- the Listing Committee will provide a non-binding view to both the Listing Policy Committee and the Listing Regulatory Committee on their decisions;
- the listing function will remain within the Exchange which will continue to be the frontline regulator for listing matters;
- the Listing Committee, together with the Listing Department, will continue to decide a large majority of initial listing applications and post-listing matters; and
- the SFC’s powers and functions in relation to listing matters will remain unchanged, but the ways in which those powers and functions are exercised and performed will be enhanced.
The three-month consultation will end on 19 September 2016 and comments can be submitted to the SFC & HKEX. The joint consultation paper is available from the SFC website or the HKEX website.
Click on the link above for further details