While the Stock Exchange of Hong Kong (HKSE) is the
frontline regulator for handling initial public offerings in
Hong Kong, the Securities and Futures Commission (SFC) has
always taken a keen interest in maintaining the integrity of
the initial public offering (IPO) market and upholding the
standards of those who participate in it.
In this regard, the SFC recently fired a salvo in its battle
to ensure sponsors of IPOs fulfil the many duties which are
required of them. On March 29 2011, the SFC issued its report
on Sponsor Theme Inspection Findings.
This is the latest in the SFC's Sponsor Theme Inspection
efforts, by which it closely scrutinises the work of IPO
sponsor firms and periodically reports to the public what it
has discovered in the course of such reviews. In the report,
the SFC's findings revealed fundamental themes of deficiencies
in the work performed by the sponsors and...