The Securities and Futures (Amendment) Ordinance 2012 ("Amendment Ordinance"), gazetted on 4 May 2012, creates a new Part XIVA of the Securities and Futures Ordinance, which places Corporations listed on the Hong Kong Stock Exchange under a statutory obligation to disclose inside information to the public as soon as reasonably practicable. Breach of that obligation exposes the listed corporation and/or its officer(s) to the risk of civil sanctions, and to liability to compensate those who have suffered pecuniary losses as a result of the breach. The statutory disclosure regime will take effect on 1 January 2013. To view our full briefing please click here.
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