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Suitability in a disclosure-based market
SEHK has announced possible waivers of the profit criteria. We don't object, but the profit test should be scrapped. It has no place in a disclosure-based market, and is no substitute for better accounting disclosure requirements and effective legal remedies and deterrents, all of which HK still sorely lacks. We make proposals for those.
- FU CHEONG INTERNATIONAL HOLDINGS LIMITED
- GKC HOLDINGS LIMITED
- GOLD WO INTERNATIONAL HOLDINGS LIMITED
- HKSAR Law Reform Commission