CE Tsang proposes regulatory regime boost

Plan includes mandating listed corporations to disclose price-sensitive information.

To diversify Hong Kong’s listing platform, Chief Executive Donald Tsang wants to attract more enterprises from the European, US and emerging markets to list in the city by enhancing its regulatory regime.

In his 2011-12 Policy Address Wednesday, Mr Tsang said the move includes enacting legislation within this legislative year to oblige listed corporations to disclose price-sensitive information.

The Government will broaden and deepen its bond market, and seek to finish updating the Companies Ordinance in this legislative year, according to a government report.

It will take forward the establishment of an independent Insurance Authority and enhance the regulatory regime for insurance intermediaries.

"We will also prepare proposals for the establishment of a policyholders’ protection fund, which will form the basis of the relevant legislation," he added.