Hong Kong's government has unveiled plans to clamp down on the directors of public companies who fail to disclose price sensitive information in a “timely” manner.
The move is the latest attempt to eliminate opportunities for insider dealing in Hong Kong's equity market by introducing laws similar to those found in rival global financial centres such as London.
“The lack of regulatory teeth in the listing rules administered by the Stock Exchange of Hong Kong has been an issue of concern to the market as well as the general public,” the Financial Services and Treasury Bureau said in its consultative document.
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