Proposed revamp of Hong Kong's regulatory structure for decision making in listing related matters

The Hong Kong Stock Exchange (the “Stock Exchange”) and the Securities and Futures Commission (“SFC”) have jointly announced proposals to revamp the regulatory structure for making decisions in listing related matters. New committees, with equal representation by both the Stock Exchange and SFC, have been proposed with mandates to determine listing policy and to oversee decisions on listing matters which raise suitability concerns or have broader policy implications.

The proposals are aimed at achieving closer cooperation between the regulators in determining listing policy and establishing clearer accountability for, and oversight of, decision making in listing regulation. They also aim to streamline the listing process and the decision-making process for important or difficult listing decisions.

In this bulletin, our Hong Kong team briefly examine the remit of the new committees and their impact on the listing process and listing regulation.