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HKEx To Appear On List Of Reporting Law Violators

by Mary Swire, for LawAndTax-News.com, Hong Kong

23 July 2003

It has emerged this week that Hong Kong Exchanges and Clearing (HKEx) is to be included on a list of public firms which have failed to fulfil their corporate filing obligations.

Issued by the Hong Kong Companies Registry, the list of 86 offenders - which covers the last year - is the first of its kind to be issued by the registry, and makes its prosecution details public.

According to reports in the regional media, HKEx fell foul of the corporate governance reporting requirements by failing to file a return with regard to an allotment of shares on time, and has been fined around $2,000.

The South China Morning Post revealed on Tuesday that around 95% of publicly listed companies filed their returns to the Companies Registry late.

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