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.