Disclosure of Interests – Practical Issues

Disclosure of Interests – Practical Issues

Overview

This course summaries the legal framework of Disclosure of Interests (“DI”) and highlights new changes and updates. It will examine practical issues for DI reporting, exemptions available and shares common pitfalls in complying with DI requirements. Some recent DI enforcement cases will also be discussed to illustrate common breaches.

Objective

This course will introduce the legal framework of disclosure of interests (DI) in Part XV of the Securities and Futures Ordinance (Cap.571). The DI regime requires directors, chief executives and substantial shareholders of companies listed in Hong Kong to disclose their interests in the companies’ securities. Failure to make a proper DI reporting is a criminal offence. The DI regime is extremely complex. Practically, the reporting of DI can be confusing and tedious and is subject to a high risk of inadvertent and technical breach. The seminar aims to clarify the practical issues in complying with the DI regime.

Content

1. What is DI?
2. Why does DI matter?
3. Who is required to report DI under the SFO?
4. When should I report DI?
5. Where do I report DI?
6. How to apply the exemptions?
7. Recent development in DI

Who should attend

Senior management of listed companies, professional investors, SFC licensees and ROs and financial services professionals.

Speaker/Course Instructor

Donald LAI
Donald is now a Manager of the Enforcement Division of the Securities and Futures Commission (“SFC”), investigating insider dealing and other market misconducts cases. He specialises in securities law and is a contributor to the 2018 and 2019 editions of the SFO: Commentary and Annotations. He started his career in a Big 4 accounting firm and then spent most of his career in the SFC. He had work experience in regulatory compliance in a multinational bank and private legal practice in an international law firm. He is a solicitor, certified public accountant, and holds various professional qualifications in accounting, auditing and compliance.

Donald earned his first degree in business administration (majoring in accounting) in Canada. While working full-time, he obtained his LLB degree with first-class honours at the City University of Hong Kong and graduated from the LLM program in Corporate and Financial Laws with distinction at the University of Hong Kong.

Details

Code
TPRCR20010501
Date & Time
Tuesday, 28 Apr 2020 (6:30PM - 9:30PM)
Venue
HKSI Institute Training Centre
Language
English
Level
Intermediate
Hours
SFC:3.00, PWMA:3.00
Fees
All Member: HK$810
Staff of Corporate Member: HK$810
Non-Member: HK$1620