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Legal Update

Consultation Papers Relating to Disclosure of Price Sensitive Information/Inside Information

7 April 2010
Mayer Brown JSM Legal Update

On 29 March 2010, the Financial Services and the Treasury Bureau ("FSTB") published the "Consultation Paper on The Proposed Statutory Codification of Certain Requirements to Disclose Price Sensitive Information by Listed Corporations", which proposes to include in the Securities and Futures Ordinance a statutory requirement for a listed corporation to disclose to the public as soon as practicable "price-sensitive information" that has come to its knowledge.

As part of the above proposal and in parallel with FSTB's consultation, the Securities and Futures Commission has also published the "Consultation Paper on the Draft Guidelines on Disclosure of Insider Information" on the same date, which proposes a draft set of guidelines to explain "inside information", a new term used in the proposed legislation to mean "price sensitive information", and its application.

For further information, please refer to:

Consultation Paper on the Draft Guidelines on Disclosure of Inside Information: http://www.sfc.hk/sfcConsultation/EN/sfcConsultFileServlet?name=dii&type=1&docno=1

Consultation Paper on The Proposed Statutory Codification of Certain Requirements to Disclose Price Sensitive Information by Listed Corporations:
http://www.fstb.gov.hk/fsb/ppr/consult/doc/consult_psi_e.pdf

For inquiries related to this Client Alert, please contact:

Patrick Wong ( )

Derek Tsang ( )

Jacqueline Chiu ( )

Jeckle Chiu ( )

Learn more about our Hong Kong office, Corporate & Securities, Corporate Governance, Capital Markets and Financial Services Regulatory & Enforcement practices.

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