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Listing

Updated: 03 Feb 2017

Head : Mr David GRAHAM
Chief Operating Officer : Ms Grace HUI

Listing is responsible for supervising the listing process, the ongoing compliance by issuers with their obligations under the Listing Rules, and ensuring those rules reflect best international practices. It is organised into the following functions:

IPO Advisory and Projects

IPO Advisory and Projects is responsible for leading and managing all IPO-related strategic projects.  In addition, it is the main contact point for pre-IPO enquiries relating to new equity listings.

IPO Vetting

IPO Vetting is responsible for processing applications for new equity listings including transactions by listed companies deemed to be new listings, issuance of guidance, formulation of IPO policies and vetting prospectuses. In addition, it assists IPO Advisory and Projects in processing pre-IPO enquiries.

Compliance & Monitoring

Compliance & Monitoring is responsible for ensuring a fair, orderly and efficient market for the trading of securities. It monitors listed companies' compliance with the continuing obligations of the Listing Rules including continuous disclosures by listed companies and their corporate governance practices, and processes their applications for listing of further equity issues. Compliance & Monitoring also handles cancellations of listings, public complaints against listed companies and enquiries and requests for clarification of the application of the Listing Rules by listed companies and market practitioners.

Listing Enforcement

Listing Enforcement is responsible for investigating possible breaches of the Listing Rules, initiating and conducting disciplinary proceedings before the Listing (Disciplinary) Committee, issuing caution and warning letters as well as handling complaints alleging breaches of the Listing Rules.

Policy and Secretariat Services & Support

Policy and Secretariat Services & Support is responsible for implementing the policy agenda set by the Listing Committee, coordinating policy initiatives and developments, and taking the lead on policy matters affecting listing applicants, listed companies and the operation of Listing. It is also responsible for providing secretariat support to the Listing Committee, Listing (Review) Committee, Listing (Disciplinary) Committee and Listing Appeals Committee. In addition, it assists with Listing's regular and ad-hoc reporting obligations, provides research support and data analysis, formulates and monitors Listing's annual budget, contingency arrangements and also monitors the implementation of the Exchange's administrative, policy and support initiatives.

Structured Products and Fixed Income

Structured Products and Fixed Income is responsible for processing listing applications of structured products and debt, monitoring post-listing compliance, handling complaints and investor education. It seeks to develop policy initiatives and enhance regulations to raise industry standard for the development of structured products and fixed income markets.

Primary Market Information

Primary Market Information is responsible for managing and enhancing the operations of Electronic Disclosures for issuer disclosure filings. It also administers trading arrangements stemming from issuers' corporate actions. In addition, it is responsible for handling the operations of Disclosure of Interests filings as required by the SFC.

Accounting Affairs

Accounting Affairs is responsible for all matters relating to accounting and auditing, including developing and formulating overall strategy and policies on accounting and financial related disclosures for listed issuers and listing applicants; liaising and coordinating with HKICPA and international accounting and auditing standard-setting bodies to influence the direction and development of accounting and auditing standards; recommending and implementing amendments to the Listing Rules in line with latest accounting and financial disclosure developments and international best practices; maintaining a financial statements review programme to ensure a high standard of financial disclosure by listed issuers; liaising with, and to make referrals to other regulatory bodies, on suspected significant accounting and auditing irregularities identified in the financial statements of listed issuers; and providing advisory services internally on accounting and auditing matters.

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