| EXECUTIVE
SUMMARY |
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Introduction
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Issues Identified
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Recommendations
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Other Remarks
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CHAPTER 1:
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BACKGROUND
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Penny Stocks Incident
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Expert Group and its Terms of Reference
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Determination of Ambit and Modus Operandi
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Solicitation of Views and Submissions Received
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Meetings with Parties
Concerned |
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Study of Regulatory Structures
of Major Markets |
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Securities and Futures Ordinance
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CHAPTER 2:
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DISCUSSION OF SPECIFIC
ISSUES
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Quality of Market
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Listing Committee
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HKEx's Separate Subsidiary Proposal
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Regulation of Listed Companies
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Listing Rules |
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Regulation of Intermediaries |
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Communication among the Three Tiers of the Regulatory Structure
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CHAPTER 3:
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RECOMMENDATIONS
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Proposed New Listing Authority and Listing Panel within
the SFC
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Arguments against Moving the Listing Function to the SFC
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Listing Rules
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Listing Fees |
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Regulation of Intermediaries |
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CHAPTER 4:
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IMPLEMENTATION
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Working Party and Transition Period
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Staffing
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Finance
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CHAPTER 5:
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OTHER REMARKS
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Case for a Single Corporate Regulator
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Class Actions by Investors to Seek Redress
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Prospectuses and Company Announcements
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Regulation of Valuers
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Staff Secondments |
Last updated: March
21, 2003