Commencement of mandatory electronic filing of disclosure of interests notifications and reports under Securities and Futures Ordinance
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The Commencement Notice aims to bring into effect on July 3, 2017, Part 4 of the Securities and Futures (Amendment) Ordinance 2014, which mandates disclosure of interests notifications and reports by corporate insiders and substantial shareholders of listed corporations to the Stock Exchange of Hong Kong (SEHK) under Part XV of the Securities and Futures Ordinance to be filed electronically.
This will improve the timeliness of publication of such information on the website of the Hong Kong Exchanges and Clearing Limited. Currently, disclosure of interests notifications and reports may be filed by hand, by post, by fax or by email.
Also, corporate insiders and substantial shareholders of listed corporations will no longer be required to submit notifications of their interests and short positions to the relevant listed corporation. The SEHK will provide the notifications it receives to the relevant listed corporation.
To facilitate the filing of the notifications and reports, the Securities and Futures Commission is refining the filing forms, and plans to publish them in April 2017. There will be no change in the scope of information required to be filed under the existing law.
The Commencement Notice will be tabled before the Legislative Council on March 29 for negative vetting.
Ends/Friday, March 24, 2017
Issued at HKT 11:00
Issued at HKT 11:00
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