HKEX also released consultation conclusions on the Review of Listing Rules Relating to Disciplinary Powers and Sanctions. To summarize, HKEX will implement all the proposals relating to disciplinary powers and sanctions, with minor modifications, to bring disciplinary actions against a broader range of individuals. Please refer to the press release for details. The new rules will take effect on 3 July 2021. Please also refer to the Institute’s submission. While HKEX will proceed to extend a broader range of possible sanctions to professionals as well as listed companies, their directors and senior management, it is made clear in a note to the new rules (Rule 2A. 10B(3)) that sanctions are subject to the existing arrangements between the HKEX and professional regulatory bodies – including the Institute. |