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Exchange Publishes Revised Policy Statement on the Enforcement of the Listing Rules and Sanctions Statement

Regulatory
08 Jul 2021

  • Revised Policy Statement and Sanctions Statement reflect changes to enforcement-related Listing Rules
  • Enforcement priorities: responsibility; controls and culture; and cooperation

 

The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), today (Thursday) published a revised Enforcement Policy Statement (the Policy Statement) and a revised Enforcement Sanctions Statement (the Sanctions Statement).

As well as providing important information about the Exchange’s approach to and objectives of enforcement, the Policy Statement also sets out the Exchanges’ latest enforcement priorities of: responsibility, controls and culture, and cooperation. These priorities, which will replace the enforcement themes in place since 2017, describe the areas in which the Exchange is targeting its enforcement resources.

Jon Witts, Head of Enforcement of the Listing Division at HKEX, said: “Our new priorities reflect our focus on individuals, and the critical importance of proactivity and vigilance. Having both the right attitude and framework towards Listing Rule compliance is essential for good corporate governance. If these are absent, then those responsible for compliance with the Listing Rules are at risk of breach and potential disciplinary action.”

The Sanctions Statement has also been updated to reflect current enforcement policy, and the changes to the Listing Rules relating to disciplinary sanctions and powers which came into effect on 3 July 2021.

 

 

About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets.  HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.

HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited.  This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.

HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.

www.hkexgroup.com

 

 

Ends

Updated 12 Jul 2021