On 7 August 2020, the Stock Exchange of Hong Kong Limited (the Exchange) published a consultation paper seeking market views on proposed changes to the Listing Rules relating to disciplinary powers and sanctions. The deadline for submissions is 9 October 2020.
The Exchange aims to have available a spectrum of graduated sanctions, ranging from private reprimand, public statement involving criticism, public censure, other statements of concern in respect of an individual’s conduct, denial of facilities of the market, trading suspension to cancellation of listing. The Exchange also proposes to enhance certain existing sanctions to allow effective regulatory response to address different types of misconduct. To this end, particular emphasis has been placed on instances of misconduct by individuals in relation to a breach of the Listing Rules.