Hong Kong's Securities and Futures Commission (SFC) is to
delay introduction of revised research requirements from August
1 to October 31 following lobbying from a consortium of banks
in the city, IFLR can reveal.
The SFC last month released proposals to expand the scope of
conflicts-of-interest requirements governing analyst conduct
when preparing investment research reports.
The provisions had stipulated that listing applicant
sponsors would be obligated to ensure that all material data,
including forward-looking information, disclosed to
analysts be contained in the prospectus or listing
document filed on or after August 1.
They aimed to prevent pre-deal research reports from being
used by listing applicants to disseminate information without
formal prospectus liability. And followed...