Hong Kong Capital Markets Update – Issue 11, October 2018

Hong Kong Capital Markets Update – Issue 11

HKEX’s proposal to introduce a specific suspension requirement for certain listed issuers

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On 28 September 2018, the Stock Exchange of Hong Kong (the Exchange) published a consultation paper (Consultation) seeking market views on its proposal to introduce a specific suspension requirement applicable to listed issuers with disclaimer or adverse audit opinion on their financial statements. 

As part of the Exchange’s holistic review of the continuing obligations of listed issuers, it identified that there are market concerns around listed issuers with disclaimer or adverse opinion on their financial statements as these auditors’ reports indicate the risk of misstatements could be both material and pervasive. 

To address this issue, the Exchange published the Consultation proposing a specific suspension requirement to provide better investor protection by safeguarding the quality and reliability of financial information published by listed issuers. The deadline for submissions is 30 November 2018.

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