Exchange Reminds Listed Issuers about Corporate Disclosures

In the run-up to the new year and the beginning of the reporting season for the majority of listed companies in Hong Kong (including this author’s company), the stock exchange issued a reminder today regarding corporate disclosures in annual reports.  David Graham, the Chief Regulatory Officer and Head of Listing commented:

As we approach the reporting season for the vast majority of issuers, we would like to encourage directors and other persons responsible for corporate reporting to pay attention to the areas of disclosure where the Exchange noted room for improvement…

In particular the exchange highlighted the following reports:

Review of Disclosure in Issuers’ Annual Reports to Monitor Rule Compliance Report 2015

Financial Statements Review Programme Report 2015

 

The exchange also made reference to news reports regarding the exchanges’ analysis of Corporate Governance Practice Disclosures in 2014/2015 Annual Reports:

http://www.hkex.com.hk/eng/newsconsul/hkexnews/2015/1511273news.htm

http://www.hkex.com.hk/eng/newsconsul/hkexnews/2016/160513news.htm

http://www.hkex.com.hk/eng/newsconsul/hkexnews/2016/1609232news.htm

 

Readers are encouraged to read the above releases and contact their representatives at the exchange if they have any questions or concerns. I wish you good luck preparing this year’s disclosures, particularly in light of the additional enterprise risk management disclosure requirements.