Hong Kong continues to be one of the top locations in the world for Initial Public Offerings “IPO”s. However, irregularities that have come to light in companies post-listing leading to some IPOs being delisted. To maintain confidence and market stability the SFC has enhanced its enforcement of sponsor activity and sponsors now face increased liability for failures. The following course will provide an overview of the obligations and liabilities of sponsors in an IPO.
Obligations and Liabilities of Sponsors in IPOs
Detailed Information
- Background
- SFC Consultation Conclusions
- IPO Vetting Procedures
- Sponsor Obligations
- Sponsor due diligence – PN21
- Appropriate verification
- Interview practices
- Reliance on third parties
- Guidance Letters on Expert Reports
- Communications with regulators
- Proper records
- Regular assessments of systems and controls
- Sponsor Liability
- Civil vs. Criminal liability
- SFC Enforcement Actions
- Sponsor Record Keeping
- Code of Conduct
- Documenting DD
- Retention of Records
- SFC Latest Move
Registration Conditions
To view our registration conditions click HERE.