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The Government welcomes the Securities and Futures Commission (SFC)'s report on the annual review of the performance of the Stock Exchange of Hong Kong Limited (SEHK) in its regulation of listing matters in 2009.
SFC's report reviewed certain operational procedures and decision-making processes adopted by the Listing Division of SEHK to assess whether they are adequate to enable SEHK to meet its statutory obligation under section 21 of the Securities and Futures Ordinance to ensure, so far as reasonably practicable, an orderly, informed and fair market.
The report recommended SEHK to continue its effort in developing appropriate precautionary measures which would help ensure an open market for securities trading on SEHK; and to review how it could further improve the manner in which the information it discloses about its practices, procedures and decisions can be more readily accessible to both experienced market professionals and less frequent users of its many disclosures.
A government spokesman said today (December 23), "We welcome the measures that SEHK has taken in maintaining an orderly market."
"We also welcome SEHK's efforts in revamping its website to present its practices, procedures and decisions in a more user-friendly manner. We look forward to further efforts by SEHK to promote the openness, fairness and transparency of our market," the spokesman said.
"The conduct of the annual review represents ongoing efforts by SFC and SEHK to enhance the regulatory regime for the securities market in Hong Kong," he added.
Ends/Thursday, December 23, 2010
Issued at HKT 17:41
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