Hong Kong's Securities And Futures Commission Encourages Listed Companies To Disclose Inside Information Before 1 January 2013

The Securities and Futures Commission (SFC) encourages listed companies to ensure their disclosures are up-to-date when the statutory disclosure regime comes into operation on 1 January 2013. Under the new regime, a listed company will have a statutory duty to disclose inside information that has not been disclosed (Note 1).

All listed companies should take steps to ensure that any inside information that has come to their knowledge is identified and disclosed before 1 January 2013 to avoid being in breach of the new statutory disclosure requirements.

To help listed companies understand the new disclosure obligation, the SFC has launched a consultation service on 1 December 2012 and the SFC’s Guidelines on Disclosure of Inside Information was issued and gazetted earlier this year (Note 2).

Contact details on the consultation service are available on the SFC’s website.

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Notes:

1. Please see SFC’s press release on 3 May 2012 regarding the gazettal of the Securities and Futures (Amendment) Ordinance 2012. The gazette is available on the website of the Government Logistics Department.
2. Please see the SFC’s press release on 29 November 2012.