Articles: HKEx/SFC: Securities & Futures
Ordinance
The SFC Chairmanship
The Government is proposing to create a non-executive, token-payment
Chairmanship at the SFC. In a submission invited by the Legislative Council's
Panel on Financial Affairs, we argue that this would be dangerous and wrong in
principle. (20-Dec-04)
Disclosure of Pledges
After recent one-day crashes in several stocks, there is renewed focus on the
need to disclose share pledges. Some, including the CEO of HKEx, have suggested
that this can be dealt with in the Listing Rules. But they are missing the point
- HKEx has no jurisdiction over shareholders. There is a simple solution -
remove the exemption of banks and brokers from the disclosure law. (7-Sep-04)
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