HKEX will codify various obligations currently found in various undertakings, confirmations, and declarations into the Listing Rules and Guidance Materials and no longer require the submission of these documents. HKEX will remove certain document submission requirements for issuers, e.g., Form M114 (Compliance Adviser’s undertaking) and certain items in Form M104 (Additional information to be submitted together with the Form A1), as these documents merely reiterate obligations already outlined in the Listing Rules or guidance materials published by HKEX (Guidance Materials), providing no additional value to the assessment of listing applications or regulation of listed issuers.Ĭodifying Undertakings, Confirmations, and Declarations Removing Unnecessary Submission Documents REDUCING SUBMISSION DOCUMENTS AND MANDATING SUBMISSION BY ELECTRONIC MEANS the simplification of the appendices to the Listing Rules.the mandatory electronic dissemination of corporate communications by listed issuers to the extent permitted by applicable laws and regulations, and.the mandatory submission by electronic means,.the reduction in the number of submission documents,.Key changes to the Rules Governing the Listing of Securities on the HKEX (the Listing Rules) include Listed issuers, directors, and practitioners in Hong Kong should pay careful attention as these proposals will have a significant practical impact on their daily compliance obligations, and a majority of the amended Listing Rules (as defined below) will come into effect on 31 December 2023. HKEX has adopted all of the proposals outlined in the Consultation Paper with some minor modifications. The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments, which aims to further simplify administrative procedures and reduce the use of paper.
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