Hong Kong Enacts a Statutory Disclosure Regime: Statutory Obligation for Hong Kong-Listed Corporations to Disclose Price Sensitive Information Becoming Effective on January 1, 2013

Sullivan & Cromwell LLP - May 14, 2012
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(The top PDF is the text of the publication in English and the bottom PDF is the Chinese language version of the publication.)

With effect from January 1, 2013, Hong Kong will implement a statutory disclosure regime requiring Hong Kong-listed corporations to disclose price sensitive or inside information. Such regime will have the force of law and failure to make timely disclosures may attract civil sanctions, including a fine of up to HK$8 million, and liabilities to pay compensation to third parties under civil actions.