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Rules and Guidance

In addition to the Listing Rules, this section includes reference materials on: (i) Interpretation and Guidance; (ii) Forms; (iii) Other Resources; (iv) Disciplinary & Enforcement; and (v) e-Submission System.  These materials do not form part of the Rules, nor do they amend or vary any Rule requirements, or absolve issuers and/or their directors of any obligations to make their own judgment.  They speak as of their dates of issue; some information may have been superseded.  Contact the Listing Division with any queries.  The Division can be consulted on a confidential basis.

What's New

This section contains hyperlinks to materials published under “Listing - Rules and Guidance” in the last 6 months. 

Release Date (dd/mm/yyyy)

Particulars

Section
18/12/2018 Directors E-Trainings - INEDs’ Role in Corporate Governance Other Resources > Letters to Issuers
17/12/2018 Updated Circular to Management Companies of SFC-authorised Exchange Traded Funds - List of Potential Events Triggering Ongoing Disclosure Other Resources > Letters to Issuers
07/12/2018 Updates of Frequently Asked Questions
•  FAQ Series 27 (Added No.8)
•  FAQ No.045-2018 to 052-2018 (Added No.046A-2018 and updated No. 047-2018)
Interpretation and Guidance > Frequently Asked Questions
07/12/2018  Revised Frequently Asked Questions Series 24 Interpretation and Guidance > Frequently Asked Questions
16/11/2018 Analysis of Corporate Governance Practice Disclosure in June and December Year-End 2017 and March Year-End 2018 Annual Reports Other Resources > Listed Issuers > Exchange’s Review of Issuer’s Annual Disclosure > Review of Implementation of Corporate Governance Code
16/11/2018 Revised Frequently Asked Questions Series 18 Interpretation and Guidance > Frequently Asked Questions
16/11/2018 Publication of Latest Review of Listed Issuers’ Corporate Governance Practices and Updated Guidance Material on ESG Reporting Other Resources > Letters to Issuers
28/09/2018 Consultation Paper on Proposal relating to Listed Issuers with Disclaimer or Adverse Audit Opinion on Financial Statements Other Resources > Letters to Issuers
28/09/2018 Questions on Notifiable and Connected Transaction Rules relating to Lease Transactions of Listed Issuers adopting HKFRS/IFRS 16 “Leases” (or similar accounting standards in other jurisdictions) Interpretation and Guidance > Frequently Asked Questions
28/09/2018 Revised Frequently Asked Question Series 7 Interpretation and Guidance > Frequently Asked Questions
24/08/2018 Questions on listing of companies from emerging and innovative sectors – Added FAQ No. 030-2018 to 044-2018 Interpretation and Guidance > Frequently Asked Questions
17/08/2018 Consultation Conclusions on Proposed Exemption for Aircraft Leasing Activities Other Resources > Letters to Issuers
10/08/2018 Publication of Consultation Paper on Review Structure in relation to Listing Committee Decisions Other Resources > Letters to Issuers
31/07/2018

Updates of Listing Decisions and Guidance Letter as a result of the Rule changes on Delisting and Other Rule Amendments

•  LD77-2/ LD35-2012/ LD87-2015/ LD88-2015/ LD110-2017/ LD114-2017/ LD115-2017/ LD116-2017/ LD118-2018
•  GL66-13

 Interpretation and Guidance
27/07/2018 Publication of Consultation Conclusions Paper on Review of the Corporate Governance Code and Related Listing Rules and Guidance for Boards and Directors Other Resources > Letters to Issuers
26/07/2018 Publication of the Exchange's Biannual Enforcement Newsletter Disciplinary & Enforcement > Enforcement Newsletter
20/07/2018 Publication of Enforcement Statistics for the first six months of 2018 Disciplinary & Enforcement > Enforcement Statistics 
13/07/2018 Publication of new and revised FAQ Series and Guidance Letters as a result of Streamlining Guidance Materials Relating to Listing Matters

• FAQ Series 24
• GL18-10/ GL55-13/ GL56-13/ GL81-15/ GL98-18/ GL99-18
Interpretation and Guidance
13/07/2018 Revised Frequently Asked Question Series 29
 Interpretation and Guidance > Frequently Asked Questions
06/07/2018 Guidance for applicants in the internet technology sector or that have internet-based business models (GL97-18) Interpretation and Guidance > Guidance Letters > Guidance Letters for New Applicants
29/06/2018 Consultation Paper on Backdoor Listing, Continuing Listing Criteria and Other Rule Amendments Other Resources > Letters to Issuers
29/06/2018 Guidance on Suitability for Continued Listing (GL96-18) Interpretation and Guidance > Guidance Letters > Guidance Letters for Listed Issuers
29/06/2018

Updates and withdrawals of FAQs, Guidance Letters, and Listing Decisions as a result of the Rule changes on Capital Raisings by Listed Issuers

•  FAQ Series 7/ Series 8/ Series 20/ Series 28/ 024-2018/ 026-2018
•  GL80-15/ GL88-16
•  LD12-1/ LD99-2/ LD113-1/ LD25-2012/ LD26-2012/ LD54-2013/ LD70-2013/ LD71-2013/ LD90-2015/ LD102-2016/ LD103-2016

             		Interpretation and Guidance
29/06/2018 Revised Checklists and Forms as a result of the Rule changes on Capital Raisings by Listed Issuers Forms > Main Board Issuers
29/06/2018 Revised Checklists and Forms as a result of the Rule changes on Capital Raisings by Listed Issuers Forms > GEM Issuers
01/06/2018 Financial Statements Review Programme - Report 2017 Other Resources > Listed Issuers > Exchange’s Review of Issuer’s Annual Disclosure > Financial Statements Review
25/05/2018 Guidance on long suspension and delisting (GL95-18) Interpretation and Guidance > Guidance Letters > Guidance Letters for Listed Issuers
25/05/2018 Consultation Conclusions on Delisting and Other Rule Amendments Other Resources > Letters to Issuers
18/05/2018 Analysis of Environment, Social and Governance Practice Disclosure in 2016/2017 Other Resources > Listed Issuers > Exchange’s Review of Issuer’s Annual Disclosure > Review of Implementation of Environment, Social and Governance Reporting Guide
11/05/2018 Question on scope of “pledging of shares” under Rule 13.17 Interpretation and Guidance > Frequently Asked Questions
11/05/2018 Revised Listing Decision with respect to whether the Exchange would disregard the consideration ratio for the acquisition and accept the proposed alternative size test (LD83-1) Interpretation and Guidance > Listing Decisions
11/05/2018 Revised Frequently Asked Question Series 1 No.49 Interpretation and Guidance > Frequently Asked Questions
04/05/2018 Questions on calculation of value dilution Interpretation and Guidance > Frequently Asked Questions
04/05/2018 Consultation Conclusions on Capital Raisings by Listed Issuers Other Resources > Letters to Issuers


Updated 19 Dec 2018

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