Hong Kong SFC Issues REIT Scheme Proposal to Allow REITs Privatization & Corporate Restructuring in Clear & Orderly Manner to Protect Investors, and Enhanced Market Conduct Regime for Listed Collective Investment Schemes on Insider Dealing & Marketing Manipulation
12th October 2024 | Hong Kong
The Hong Kong Securities and Futures Commission (SFC) has issued a REIT Scheme Proposal to allow REITs privatization & corporate restructuring in clear & orderly manner to protect investors, and enhanced market conduct regime for listed collective investment schemes on insider dealing & marketing manipulation. Hong Kong SFC (8/10/24): “The Securities and Futures Commission (SFC) today released consultation conclusions on proposals to introduce a statutory scheme of arrangement and compulsory acquisition mechanism for real estate investment trusts (REITs) (REIT Scheme Proposal) and an enhanced market conduct regime for listed collective investment schemes (CIS) under the Securities and Futures Ordinance (SFO) (Listed CIS Proposal). The REIT Scheme Proposal would enable REITs to conduct privatisation and corporate restructuring in a clear and orderly manner, with similar safeguards and protection for investors as embodied in the statutory framework under the Companies Ordinance. Moreover, the Listed CIS Proposal would further fortify market integrity by facilitating the extension of the SFO regime against market misconduct of listed companies, such as insider dealing and market manipulation, to listed CIS including REITs. The proposals received general support during consultation. The bill on legislative amendments to implement the proposals is now being prepared. The SFC continues to work with the Government regarding the legislative process to implement the proposals.”
“ Hong Kong SFC Issues REIT Scheme Proposal to Allow REITs Privatization & Corporate Restructuring in Clear & Orderly Manner to Protect Investors, and Enhanced Market Conduct Regime for Listed Collective Investment Schemes on Insider Dealing & Marketing Manipulation “
Hong Kong SFC Issues REIT Scheme Proposal to Allow REITs Privatization & Corporate Restructuring in Clear & Orderly Manner to Protect Investors, and Enhanced Market Conduct Regime for Listed Collective Investment Schemes on Insider Dealing & Marketing Manipulation
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