- Revised Policy Statement and Sanctions Statement reflect changes to enforcement-related Listing Rules
- Enforcement priorities: responsibility; controls and culture; and cooperation
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), today (Thursday) published a revised Enforcement Policy Statement (the Policy Statement) and a revised Enforcement Sanctions Statement (the Sanctions Statement).
As well as providing important information about the Exchange’s approach to and objectives of enforcement, the Policy Statement also sets out the Exchanges’ latest enforcement priorities of: responsibility, controls and culture, and cooperation. These priorities, which will replace the enforcement themes in place since 2017, describe the areas in which the Exchange is targeting its enforcement resources.
Jon Witts, Head of Enforcement of the Listing Division at HKEX, said: “Our new priorities reflect our focus on individuals, and the critical importance of proactivity and vigilance. Having both the right attitude and framework towards Listing Rule compliance is essential for good corporate governance. If attitude and framework are absent, then those responsible for compliance with the Listing Rules, are at risk of breach and potential disciplinary action.”
The Sanctions Statement has also been updated to reflect current enforcement policy, and the changes to the Listing Rules relating to disciplinary sanctions and powers which came into effect on 3 July 2021.
Source: HKEx