HONG KONG: SFC Publishes Updated FAQs on Securities and Futures Ordinance Disclosure of Interests

Tuesday September 12 2017

The Securities and Futures Commission of Hong Kong (SFC) has published updated Outline of Part XV of The Securities and Futures Ordinance (Cap. 571) – Disclosure of Interests. The outline is intended to be a practical guide to the situations in which a notice will have to be filed under Part XV of the SFO (“Part XV”).

This revision was prompted by the commencement of Part 4 of the Securities and Futures (Amendment) Ordinance (“Amendment Ordinance 2014”) on 3 July 2017 to implement mandatory electronic filing for DI notices and reports under Part XV.

Part 4 of the Amendment Ordinance 2014, enacted on 26 March 2014, amends the SFO to require notifications and reports under Part XV to be filed electronically. Part 4 of the Amendment Ordinance 2014 was brought into operation on 3 July 2017 by the Commencement Notice (L.N. 45 of 2017). HKEX also commenced the operation of the new electronic DI filing system, Disclosure of Interests Online System (“DION System”), on the same day to enable submission of DI forms, maintaining DI information and publishing DI information on the HKEX website.

Before the date of Commencement (i.e. 3 July 2017), filings of DI notices and reports under Part XV may be made by fax, by post, by email or by hand. Part 4 of the Amendment Ordinance 2014 amends the SFO so that these notices and reports must be submitted electronically to the Stock Exchange.

The prescribed forms and other useful materials relating to the disclosure regime under Part XV are published on our website at the following address: http://www.sfc.hk/web/EN/rulebook/sfo-part-xv-disclosure-of-interests/ (Under Rules and standards / Securities and Futures Ordinance Part XV – Disclosure of Interests).

Click on the above link for further information.