SFC statement on SEHK's draft proposal on weighted voting rights

Hurray! This should kill it, as all changes to Listing Rules must be approved by the SFC. The SFC board "unanimously concluded that it does not support the draft proposal for primary listings with WVR structures". Now Government should recognise the huge conflict of interest in HKEx being a for-profit rule-maker and regulator. The Listing Division should be transferred to the SFC and merged with its Corporate Finance Division which oversees the Takeovers Code, as a Government-appointed Expert Group recommended in 2003.

Organisations

HONG KONG EXCHANGES AND CLEARING LIMITED 香港交易及結算所有限公司
SECURITIES AND FUTURES COMMISSION 證券及期貨事務監察委員會

Topics

Financial regulatory structure
Listing rules

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