The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), published today (Friday) its Consultation Conclusions on rule changes to complement the introduction of the statutory obligation to disclose inside information.
On 3 August 2012, the Exchange published a consultation paper to seek comments on the proposed Rule changes consequential on the implementation of the statutory disclosure regime in respect of inside information by the Securities and Futures (Amendment) Ordinance 2012 coming into effect on 1 January 2013. The consultation period ended on 3 October 2012.
The Exchange received 32 submissions from listed companies, practitioners, professional bodies and an individual. The Exchange thanks the respondents for sharing their suggestions and views.
The majority of the respondents supported most of our consultation proposals. Having considered the responses, we decided to adopt the proposed Rule changes, subject to amendments based on the comments made. The consultation paper and consultation conclusions are available on the HKEx website along with copies of the submissions made by the respondents. The revised Rules will take effect from 1 January 2013.
"The Rule changes seek to, amongst other things, ensure that the obligations in the Listing Rules do not duplicate the statutory disclosure obligation. The Exchange will continue to monitor the market by making enquiries where appropriate", said Mark Dickens, HKEx's Head of Listing.
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