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Following the enactment of the Securities and Futures (Amendment) Ordinance 2012 in May, the statutory regime for disclosure of inside information will come into operation next Tuesday (January 1). Listed corporations are required to disclose inside information to the public in a timely manner.
A spokesman for the Financial Services and the Treasury Bureau said today (December 27), "A civil, statutory regime governing the disclosure of inside information will help promote a continuous disclosure culture among listed corporations to enhance market transparency and quality."
The spokesman said, "The regime will bring our regulatory regime for listed corporations more in line with other international financial centres and enhance Hong Kong's strength as a premier capital formation platform."
The Securities and Futures Commission (SFC) this month launched a consultation service with a view to assisting listed corporations in understanding and complying with the statutory disclosure provisions.
"To help listed corporations prepare for the commencement of the statutory regime, the SFC has been giving presentations for professional organisations and trade bodies," the spokesman added. "The SFC and the Hong Kong Exchanges and Clearing Limited have also organised several seminars in Hong Kong, Shanghai and Beijing. The seminars have been well received with an attendance of over 1,700."
Ends/Thursday, December 27, 2012
Issued at HKT 19:13
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