Hong Kong

Securities / Derivatives

SFC May Have Doubts About Allowing SPAC Listings – Report

By Sanday Chongo Kabange | 06/05/2021

HKEX is preparing to consult the market by end-June at the earliest. However, market participants believe the odds are low that SPACs will be allowed in Hong Kong.

Enforcement

HKEX Proceeds to Delist Shares of Convoy Global Holdings

By Sanday Chongo Kabange | 06/05/2021

HKEX says its Listing Review Committee has upheld the May 2020 decision to cancel the listing of Convoy Global Holdings.

Securities / Derivatives

HKEX to Lessen Profit Requirement Hike for Main Board IPOs

By Manesh Samtani | 05/05/2021

The three-year profit requirement will be raised from HK$50mn to HK$80mn, compared to the HK$125mn or HK$150mn options proposed in November.

Enforcement

HKMA Adjusts Scope of Mandatory Reference Checking Regime

By Manesh Samtani | 05/05/2021

The HKMA has adjusted the scope of the regime, shortened the record retention requirement, and lengthened the time allowed to respond to an MRC request.

ESG / Sustainability

HKMA Issues Guideline on Green & Sustainable Finance Grant Scheme

By Editors | 05/05/2021

The grant amount for each bond issue will be half of the eligible expenses, capped at HK$2.5mn for rated bonds and HK$1.25mn  for unrated bonds.

Enforcement

SFC Set to Deploy Data Analytics in Broker Inspections

By Manesh Samtani | 29/04/2021

High volume brokers were asked in 2019 to adopt new data standards to enable more timely data submissions to regulators when requested.

ESG / Sustainability

HK Green Banks Alliance Hosts First Roundtable

By Sanday Chongo Kabange | 29/04/2021

HKMA Chief Eddie Yue urged banks to transform into ‘green banks’. HSBC and BOCHK announced plans to expand their green finance business.

Capital / Liquidity

Hong Kong Launches 100% Personal Loan Guarantee Scheme

By Editors | 27/04/2021

The scheme provides a supplementary financing option for individuals suffering income loss resulting from the Covid-19 pandemic.

Market Infrastructure

HK, China to Launch Southbound Bond Connect in July – Report

By Sanday Chongo Kabange | 27/04/2021

The relevant regulations will reportedly be issued in May, with a view to launching the southbound bond trading link on 2 July.