Hong Kong Exchanges and Clearing Limited (HKEx) has noted a report by the Financial Times on Hong Kong's regulatory environment. The following statement is to clarify comments carried in the report.
HKEx believes the present regulatory framework is solid and rules and regulations governing companies listed on its markets are on par with the standards of other leading international financial centres as well as global practices.
HKEx does not see a major need to revamp current regulatory requirements. Nevertheless, strengthening the regulatory framework is an ongoing process and there is always room for improvement. As such, HKEx reviews its rules on a regular basis to ensure they are in line with best current market practices and international trends.
As in all markets, there are a small number of companies and market participants that do not abide by the rules. For the benefit of the market, the majority of companies and market participants that fully comply with the rules and regulations, HKEx believes non-compliance cases should be dealt with through stricter enforcement.
HKEx will work closely with other parties to continually enhance the quality of Hong Kong's financial markets in this area and work towards strengthening the enforcement of rules governing sponsors and intermediaries.