The Securities and Futures Bill, gazetted in November 2000, seeks to consolidate and reform 10 ordinances now regulating the Hong Kong securities and futures market. The proposed legislation seeks to increase the transparency of securities dealings, tighten restrictions against market manipulation, and improve the operations of market participants, therefore bringing Hong Kong securities legislation in line with those of key international financial centres. Not surprisingly, disclosure of interests in shares of Hong Kong listed companies is one main area of change. Major amendments proposed include the following:
June 30, 2001