[HONG KONG] The Hong Kong securities regulator and stock exchange proposed an overhaul of the city's listing regime, which could tilt the balance of power in favour of the Securities and Futures Commission (SFC) in listing matters in one of the world's top IPO destinations.
The long-awaited proposals come after the Hong Kong Exchanges and Clearing Ltd (HKEX) and the SFC have had differences over listing matters.
Under the proposal, HKEX's CEO will no longer sit on the listing committee and will be replaced by the SFC CEO on the panel. The proposals were published by SFC and HKEX in a consultation released on Friday. The three-month consultation will close on Sept 19.