Regulators must cooperate

Author: | Published: 4 May 2010
Hong Kong wants statutory backing for the disclosure of price-sensitive information. But the exchange and SFC must work together

“There’s consensus between the exchange and the SFC [Securities and Futures Commission] on the need to introduce statutory backing,” says Mark Dickens, head of listing at Hong Kong’s stock exchange. “But a number of people in the market would prefer this not to happen and are trying to drive a wedge between the regulators.”

Following calls from the exchange’s listing committee to give statutory backing to the disclosure of price-sensitive information, Hong Kong published two consultation papers on the topic at the end of March. One, from the government’s Financial Services and the Treasury Bureau, sets out the legislative framework. The other, from the SFC, outlines the regulatory regime that will enforce this legislation.

But despite the cooperation of...