Keywords: IPO, new sponsor regime, SFC, code of conduct

New IPO Sponsor Regulatory Regime

A material milestone of the Hong Kong IPO process – the new IPO sponsor regulatory regime (the "New Sponsor Regime") – will be implemented on 1 October 2013. The new requirements under the New Sponsor Regime will apply to all listing applications (the "applications", each an "application" or "A1") submitted on or after 1 October 2013 (subject to certain exceptions). There are two major limbs to the New Sponsor Regime:

  • Pursuant to the "Consultation Conclusions on the regulation of IPO sponsors" published by the Securities and Futures Commission (the "SFC") on 12 December 2012 to implement the New Sponsor Regime, the key obligations of IPO sponsors will be consolidated and centralised in a new paragraph 17 of the Code of Conduct for Persons Licensed by or Registered with the SFC (the "Code of Conduct").
  • To cope with the implementation of the New Sponsor Regime, The Stock Exchange of Hong Kong Limited (the "HKEx") will implement various measures including amending the Rules Governing the Listing of Securities on the HKEx (the "Listing Rules" or "LR"), streamlining the listing vetting process, issuing/revising various guidance letters on logistics, disclosure and other requirements and revising certain IPO sponsor' rules, undertakings and declarations.

Get the full update

Originally published 12 August 2013

Learn more about our Hong Kong office and Corporate & Securities practice.

Visit us at

Mayer Brown is a global legal services organization comprising legal practices that are separate entities (the Mayer Brown Practices). The Mayer Brown Practices are: Mayer Brown LLP, a limited liability partnership established in the United States; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales; Mayer Brown JSM, a Hong Kong partnership, and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.

© Copyright 2013. The Mayer Brown Practices. All rights reserved.

This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein. Please also read the JSM legal publications Disclaimer.