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The Securities and Futures Commission (SFC) today released the Consultation Conclusions on Proposed Amendments to the Guidelines for the Exemption of Listed Corporations from Part XV of the Securities and Futures Ordinance (Disclosure of Interests) (Note 1).
In June, the SFC proposed amendments providing two additional categories for exemption under the Guidelines to cover participants of The Stock Exchange of Hong Kong Limited as well as clearing participants of a recognized clearing house that are themselves clearing houses.
The responses all supported the proposed amendments, which will be adopted with minor drafting revisions. The submissions and the SFC’s responses are detailed in the Consultation Conclusions.
“We thank the respondents for their comments. The amendments that we are making to the Guidelines will provide a level playing field for market participants that perform similar functions to facilitate the implementation of Shanghai-Hong Kong Stock Connect (Note 2),” said Mr Ashley Alder, the SFC’s Chief Executive Officer.
The Guidelines will come into effect on 5 September 2014 following gazettal.
Notes:
- On 18 June 2014, the SFC issued a Consultation Paper on Proposed Amendments to the Guidelines for the Exemption of Listed Corporations from Part XV of the Securities and Futures Ordinance (Disclosure of Interests). The consultation period ended on 17 July 2014.
- On 10 April 2014, the SFC and the China Securities Regulatory Commission (CSRC) jointly announced Shanghai-Hong Kong Stock Connect, a pilot programme for establishing mutual stock market access between Shanghai and Hong Kong. The Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited will enable investors in each market to trade eligible shares listed on the other market through local securities firms or brokers. Please refer to the joint announcement by the SFC and CSRC for details.
