Tag Archives: Sponsors

UK Listing Rules: fine for failing to identify related party transactions

The FCA’s recent fine for breaches of the Listing Rules, principally in respect of failures in systems and controls to identify related party transactions, illustrates the regulator’s focus on: systems and controls around related party transactions; the need to implement, as well as … Continue reading

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Filed under FCA, UK

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 Eric Shum Kam Chi as a representative in all regulated activities and withdrawn approval for him to act as a responsible officer for 3 years.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

Hong Kong Stock Exchange publishes changes to the Listing Rules in preparation for the implementation of the new Sponsors’ Regime

On Tuesday, the Hong Kong Stock Exchange published its eagerly awaited changes to the Listing Rules to implement the changes made necessary as a result of the Securities and Futures Commission’s revisions to the sponsors’ regime.  The Listing Rule changes … Continue reading

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Filed under Asia, Hong Kong

Hong Kong SFC revokes IPO sponsor’s licence to advise on corporate finance

On 22 April 2012, the Securities and Futures Commission (“SFC”) announced that it had revoked Mega Capital (Asia) Company Limited’s (“Mega Capital”) licence to advise on corporate finance, and fined it HK$42 million, for failing to discharge its duties as … Continue reading

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Filed under Asia, Hong Kong, JURISDICTIONS, Non-UK regulation