Investment banks face much tougher regulation when helping companies list in Hong Kong under rules being introduced by the city’s market regulator.
The Securities and Futures Commission wants to make sponsors of initial public offerings criminally liable for false information presented by companies they help to bring public.
Ashley Alder, SFC chief executive, said the change would “incentivise sponsors to raise standards, pick the right deals and manage them well, which should in turn reduce risks for investors and all those involved in IPOs”.
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