On 12 January 2023, our Partner and Head of our Litigation and Dispute Resolution Department, Ms. Heidi Chui and her team visited the China International Economic and Trade Arbitration Commission Hong Kong Arbitration Center (CIETAC Hong Kong Arbitration Center). CIETAC Hong Kong Arbitration Center’s Deputy Secretary General, Mr. Brad Wang, and other members warmly welcomed Ms. Chui and the team.

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Our Partner Hank Lo, Head of our firm’s Corporate Finance Department, and Partner Heidi Chui, Head of Banking and Finance and the Litigation and Dispute Resolution Departments, have been recognised on “The A-List China’s Elite Lawyers (Foreign Lawyers)” (The A-list) by China Business Law Journal (CBLJ) for their extensive experience and recognition by clients. The A-list acknowledges the top private practitioners excelling in the Chinese market.
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Ms. Haiyan Gu, General Manager of Sina Group, recognised our Partner Ms. Chui as: “A key person capable of leading the process of dispute resolution. [Ms. Chui] has extensive experience and extraordinary legal skills in cross-border dispute resolution and international arbitration” she said. “[Her] services and opinions are very practical.”

*Photo from China Business Law Journal.

The A-List was selected by the editorial team of CBLJ after months of independent research over 10,000 nominations and feedbacks received from in-house counsel and corporate executives.

	Hank Lo|Partner Head of Corporate Finance
I am honoured to be recognised by CBLJ for 4 consecutive years. I wish to thank all our clients for their support and the hard work of our team. We will continue to expand and enhance our services in China’s growing legal market.

 

Heidi Chui| Partner Head of Banking and Finance and Litigation and Dispute Resolution

It is an honour to be recognised by CBLJ’s again on “The A-List China’s Elite 100 Lawyers”. Thank you CBLJ for the recognition and our team members for their dedication, especially the long-term trust and support of our clients. I look forward to having closer collaborations with our clients in China’s legal market, particular in the Greater Bay Area, to provide innovative and pragmatic solutions.

For any inquiries, please contact our Partners, Hank Lo or Heidi Chui, or visit “The A-List” here .

The Top Talent Pass Scheme (“TTPS”) is a work visa aimed to attract top talents with rich work experience and good academic qualifications from all over the world to explore opportunities in Hong Kong. These top talents include high-income talents and graduates from the world’s top universities.

Following the announcement of the Chief Executive’s 2022 Policy Address, the Hong Kong Government has launched the TTPS on 28 December 2022 in response to the decline in the local workforce over the past few years.

The scheme is projected to run for a period of two years. Applicants admitted under the TTPS will normally be granted an initial stay of 24 months without other conditions of stay, provided that normal immigration requirements are met.
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(中文) 2022年12月21日，本所合伙人﹑银行及金融部和诉讼及争议解决部主管徐凯怡律师，受邀为香港电台第一台节目《法律是咁的》担任受访嘉宾，探讨粤港澳大湾区与青年律师作为专业人士的机遇。《法律是咁的》由香港律师会与香港电台第一台共同合作推出，旨在向大众分享法律界之发展并探讨未来之机遇，暂定于2023年1月1日开始播放。

由左起: 本所合伙人徐凯怡律师﹑黄江天律师﹑谭雪欣律师和汤文龙律师

2019年2月，国务院发布了「粤港澳大湾区发展规划纲要」，支持建设香港为亚太区国际法律及争议解决服务中心，为法律服务等专业服务业界带来巨大机遇。徐律师作为香港律师会《两岸四地青年律师论坛》筹委会副主席，和首批通过「粤港澳大湾区律师执业考试」 (“大湾区考试“) 的香港律师，向听众分享了大湾区的发展前景和大湾区考试带来的机遇。累计执业五年的香港法律执业者，在通过大湾区考试和取得相关执业证书后，将可以在广州、深圳、珠海等大湾区内地九市办理适用内地法律的部分民商事法律事务（含诉讼业务和非诉讼业务）。

如阁下有任何查询或想了解更多详情，请联络本所合伙人徐凯怡律师。​

On 16 December 2022, our Partners and Heads of SW Private Client Department, Ms. Catherine Por and Ms. Wendy Lam, and Partner Mr. Calvin Lo, were invited by Temple Chambers to attend the Family Law Christmas Drinks.

We would like to take this opportunity to thank Temple Chambers for the invitation and the enjoyable evening to catch up with our friends and peers.

From the left: our Partners Ms. Catherine Por, Ms. Wendy Lam, and Mr. Calvin Lo

Please contact our Partners, Ms. Catherine Por, Ms. Wendy Lam, or Mr. Calvin Lo, for any enquiries or further information about this event.

Introduction

On 16 December 2022, The Stock Exchange of Hong Kong Limited (the “Exchange”) published a consultation paper seeking public feedback on proposals to expand the paperless listing regime and make other rule amendments (the “Consultation Paper”). The public comment period ends on 28 February 2023.

The Consultation Paper was published to further simplify the Exchange’s administrative procedures and reduce the use of paper after the success of the consultation paper on proposals to introduce a paperless listing and subscription regime, online display of documents and reduction of the types of documents on display published by the Exchange in July 2020 and its conclusions paper published in December 2020 (see our news update).

Key Proposals

Proposal 1: Reduce the number of documents required to be submitted to the Exchange and mandate submission by electronic means

Currently, new applicants and listed issuers are required to submit to the Exchange a considerable number of documents. As such, the Exchange proposes the following measures in order to reduce the number of required documents for submission:
(a) remove submission of documents that are unnecessary to the Exchange’s regulatory objectives, including those that simply reiterate parties’ obligations already set out in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) or guidance materials issued by the Exchange from time to time or overlap with other submission or disclosure requirements;

(b) codify obligations contained in various undertakings (e.g. DU Form and Form M110), listing agreements and other standalone confirmations or declarations into the Listing Rules and to remove documents that become duplicative as a result;

(c) to consolidate certain requirements into existing forms (e.g. Form A1);

(d) remove unnecessary signature and certification requirements, i.e. if they only: (i) evidence the sponsors’ approval of the contents; or (ii) certify that the submissions are true copies of their originals; and

(e) mandate electronic submission for a majority of submission documents.

The Exchange shall explore with the Companies Registry on the feasibility of digitalising the prospectus authorisation and registration processes.

Proposal 2: Mandate electronic dissemination of corporate communications ¹ to securities holders by listed issuers after listing

The Exchange proposes to amend the Listing Rules to: (a) mandate that listed issuers electronically disseminate corporate communications to the extent permitted by the laws and regulations applicable to them and their constitutional documents; and (b) enable listed issuers to elect their own consent mechanism for disseminating corporate communications electronically to the extent that the chosen mechanism is permissible under the laws and regulations applicable to them and their constitutional documents.

Proposal 3: Simplify the Listing Rules Appendices

The Exchange proposes to restructure the appendices to the Listing Rules (the “Appendices”) to simplify navigation and enhance the online experience for Listing Rules users, by: (a) moving fee-related Appendices and certain forms to new sections on the website of Hong Kong Exchanges and Clearing Limited while specifying in that new location that they still form part of the Listing Rules; (b) repealing Appendices that are administrative in nature (e.g. Headline Categories) and separately displaying their contents on the Exchange’s website outside the Listing Rules section; (c) deleting the Appendices that have already been repealed or are unnecessary to be set out in the Listing Rules; and (d) reorganising the remaining Appendices by theme.

Analysis and takeaways

This Consultation Paper marks the Exchange’s further efforts to expand its paperless initiatives and simplify its administrative procedures. This can, in turn, enhance environmental sustainability and modernise the Hong Kong’s listing regime, which is in line with the general favouring market sentiment for the greener path forward in Hong Kong. As such, we welcome the Exchange’s proposals and the proposed Listing Rules that will give effects to the proposals.

Please contact our partner Mr. Rodney Teoh for any enquiries or further information.

This news update is for information purposes only. Its content does not constitute legal advice and should not be treated as such. Stevenson, Wong & Co. will not be liable to you in respect of any special, indirect or consequential loss or damage arising from or in connection with any decision made, action or inaction taken in reliance on the information set out herein.

¹ “Corporate communications” means: any document issued or to be issued by an issuer for the information or action of holders of any of its securities or the investing public, including but not limited to:—
(a) the directors’ report, its annual accounts together with a copy of the auditors’ report and, where applicable, its summary financial report;
(b) the interim report and, where applicable, its summary interim report;
(c) a notice of meeting;
(d) a listing document;
(e) a circular;
(f) a proxy form;
(g) an Application Proof; and
(h) a Post Hearing Information Pack or “PHIP”.