• Hong Kong Enacts a Statutory Disclosure Regime: Statutory Obligation for Hong Kong-Listed Corporations to Disclose Price Sensitive Information Becoming Effective on January 1, 2013
  • May 17, 2012 | Authors: Michael G. DeSombre; Kay Ian Ng; Gwen Wong
  • Law Firm: Sullivan & Cromwell (Hong Kong) - Hong Kong Office
  • With effect from January 1, 2013, Hong Kong will implement a statutory disclosure regime requiring Hong Kong-listed corporations to disclose price sensitive or inside information. Such regime will have the force of law and failure to make timely disclosures may attract civil sanctions, including a fine of up to HK$8 million, and liabilities to pay compensation to third parties under civil actions.