18 June 2012
Hong Kong's new statutory price sensitive information/inside information disclosure regime (PSI Disclosure Regime) will take effect on 1 January 2013. As part of the new regime, the Securities and Futures Commission (SFC) has gazetted its "Guidelines on Disclosure of Inside Information" (PSI Disclosure Guidelines) to assist the market to understand and comply with the new requirements. It will also take effect on 1 January 2013.
Under the PSI Disclosure Regime, we believe that three questions will most concern corporations and their officers (including directors):
- Whether a given situation or a piece of information is "inside information"?
- What a corporation should do to invoke disclosure safe harbours?
- What else should a corporation or its officers do to prevent a breach?
This legal update highlights what the PSI Disclosure Guidelines say about these three basic questions.
You can download copies of the PSI Disclosure Guidelines via the link below:
Please also refer to our previous legal update "New Statutory Price Sensitive Information Disclosure Regime to Take Effect on 1 January 2013". Please read this legal update in conjunction with our previous legal update.