Title

SFC Discards Plans for Legislative Amendments on IPO Sponsor Prospectus Liability
Client Memorandum

Created date

8/25/2014

In a surprising change of direction, the SFC has discarded plans to amend Hong Kong’s companies legislation to make it clear that sponsors of IPOs have statutory prospectus liability.

Supplemental Consultation Conclusions

On 22 August 2014 the SFC issued consultation conclusions (supplemental to the December 2012 consultation conclusions (“First Conclusions”) on IPO sponsors’ regulation) regarding sponsor’s civil and criminal liability for misstatements in a prospectus.

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