Tag Archives: Listing

Hong Kong regulators issue guidance to sponsors, underwriters and placing agents on GEM initial public offerings

New listings on the Growth Enterprise Market (GEM) in Hong Kong have been repeatedly in the headlines in recent years for dramatic share price increases on their listing debuts and high share price volatility in post-listing periods. This has led to … Continue reading

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Filed under Asia, Hong Kong

#MAR_bitesize

New Market Abuse powers for the FCA (2) Powers to require information from issuers, PDMRs and persons closely associated to PDMRs The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (the "regulations") were passed to ensure that UK law … Continue reading

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Filed under Asset management, Banking, FCA, HM Treasury, Insurance, Investigations, Investment banking, Uncategorized

Proposed revamp of Hong Kong’s regulatory structure for decision making in listing related matters

The Hong Kong Stock Exchange (the “Stock Exchange”) and the Securities and Futures Commission (“SFC”) have jointly announced proposals to revamp the regulatory structure for making decisions in listing related matters. New committees, with equal representation by both the Stock … Continue reading

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Filed under Hong Kong, Uncategorized

UK: FCA publishes some final changes (and further proposals for change) to the Sponsor Regime

On 26 September, the FCA published its response to its January consultation paper in relation to sponsor competence (CP14/2), together with a further consultation on joint sponsors and a call for views on sponsor conflicts.  A summary of the paper … Continue reading

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Filed under FCA, UK Regulations

Hong Kong: former responsible officer of SHKI suspended for sponsor-related failures

The Securities and Futures Commission (SFC) has suspended Mr. Eric Shum Kam Chi as a representative in all regulated activities and withdrawn approval for him to act as a responsible officer for 3 years.   As responsible officer and sponsor principal … Continue reading

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Filed under Hong Kong

SFC says no legislative changes needed to make Sponsors liable for prospectuses

Last Friday, the SFC issued supplemental consultation conclusions covering prospectus liability for sponsors.  The SFC has concluded that sponsors already have potential civil and criminal liability for prospectuses under the current legislation and therefore no legislative amendments are required.  The supplemental … Continue reading

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Filed under Asia, Hong Kong

The new EU market abuse and inside information regime – an overview

The new Market Abuse Regulation has been published in the Official Journal and is directly applicable in EU countries from 3 July 2016.  The Regulation will have a significant impact on all companies with securities traded on any EU market … Continue reading

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Filed under Europe, European Regulation, France, Germany, Insurance, Investment banking, Investment Funds, Italy, Spain

US: Supreme Court Provides New Avenue for Defendants to Challenge Securities Class Certification

On June 23, 2014, the United States Supreme Court issued a highly anticipated decision in Halliburton v. Erica P. John Fund, Inc. The Court reaffirmed the “fraud-on-the-market” doctrine, established in the 1988 Basic v. Levinson decision, that has been a … Continue reading

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Filed under Americas, US

Australia: ASIC’s report card on handling confidential information – ‘could do better’

Following the selective briefing of analysts by Newcrest in mid-2013, ASIC announced that it would sit in on communications between companies and analysts during the next reporting season.  Armed with the output of that survey, as well as interviews of listed … Continue reading

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Filed under Australia

Australia: All-at-sea – ASIC takes aim at Mariner and its directors

ASIC’s announcement of its intention to bring civil proceedings alleging breaches of Australia’s takeover laws by Mariner Corporation Limited is a salient reminder to market participants that ASIC may seek to bring civil (and possibly even criminal) proceedings in relation … Continue reading

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Filed under Australia