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SEHK Publishes Conclusions on Corporate Governance Code Enhancements; INEDs Can't Concurrently Hold 6+ HK-listed Issuer Directorships
Recommend 7 Positive 13 Negative 5 |
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The Stock Exchange of Hong Kong (SEHK) under HKEX (00388.HK) published conclusions to its consultation on Review of the Corporate Governance Code (CG Code) and related Listing Rules. The SEHK received 261 responses from a broad range of respondents. All the proposals received support from a majority of respondents. Having considered respondents' views, the SEHK will adopt the consultation proposals with certain modifications and clarifications, with effect from July 1, 2025. The SEHK will publish updated guidance in 1H25 to assist issuers' compliance with the new requirements. The finalized approach aims to balance the need to progress the governance regime by providing issuers with flexibility to make enhancements at an appropriate pace. Among which, independent non-executive directors (INEDs) must not concurrently hold more than six Hong Kong-listed issuer directorships with a three-year transition period under the new requirements. AAStocks Financial News |
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