SFC Bookbuilding Conduct Requirements – HKEX Listing Rules & Transitional Arrangements | 28 October

On 28 October 2022, Julia Charlton presented a webinar on SFC Bookbuilding Conduct Requirements – HKEX Listing Rules & Transitional Arrangements. This webinar provided an overview of the concerns leading to the Bookbuilding Conduct Requirements and in-depth summary of the key features of the Bookbuilding Conduct Requirements.

The webinar also discussed the expected standards and obligations of OCs and CMIs as well as the amendments to the Listing Rules to reflect to the Bookbuilding Conduct Requirements. Transitional arrangements for specific circumstances have been set out by the Hong Kong regulators which have also been discussed in this webinar.

#HKEXlistingrules #SFCbookbuilding #TransitionalArrangements

Timecodes:
00:00 Julia Charlton's welcome speech
01:15 Background
07:14 Bookbuilding conduct requirements - Key features
09:27 Scope of coverage
10:20 Type of CMIs
13:36 Obligations and requirements under SFC Code of Conduct
15:10 Assessment of the issuer and the offering (para. 21.3.1 of SFC Code of Conduct)
16:07 Appointment of CMIs and OCs (paras. 21.3.2 and 21.4.1 of SFC Code of Conduct)
18:57 Fee arrangements
24:47 Advice to the issuer by OCs (para. 21.4.2 of SFC Code of Conduct)
28:05 Assessment of investor clients and marketing (paras. 21.3.3, 21.3.4 and 21.4.5 of SFC Code of Conduct)
28:39 Management of the order book (paras. 21.3.5 and 21.4.4 of SFC Code of Conduct)
30:23 Pricing and allocation (paras. 21.3.6 and 21.4.4 of SFC Code of Conduct)
31:57 Rebates and preferential treatment (paras. 21.3.7, 21.4.3(c) and 21.4.4(b)(ii) of SFC Code of Conduct)
32:50 Disclosure of information to OC / CMIs and targeted investors (paras. 21.3.8 and 21.4.6 of SFC Code of Conduct)
33:34 Record keeping (paras. 21.3.9 and 21.4.7 of SFC Code of Conduct)
34:14 Conflicts of interest and proprietary orders of CMIs (para. 21.3.10 of SFC Code of Conduct)
35:55 Resources, systems and controls (para. 21.3.11 of SFC Code of Conduct)
36:59 Communication with regulators by OCs (para. 21.3.12 and 21.4.8 of SFC Code of Conduct)
38:36 Summary of key amendments
39:40 Key amendments to reflect the Bookbuilding Conduct Requirements
49:11 Main Board and GEM website unification

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Julia Charlton:
https://www.charltonslaw.com/the-firm/people-culture/team-profile/julia-charlton/

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