HK banks call for block trading rules

Author: | Published: 18 Nov 2010

Hong Kong regulators should switch their focus from initial public offerings (IPOs) to block trades.

In-house counsel at IFLR’s Asia Capital Markets Forum argued a new area of legislation was needed to combat industry problems with block trades, particularly the block-type situations which followed transformative corporate events.

The reverse takeover followed by substantial block has become quite common, said Deutsche Bank’s director and senior legal counsel, Nghia Luu. That, coupled with the growing size...