The Securities and Futures Commission (SFC) has set out issuer responsibilities and timelines while the Stock Exchange published parallel guidance on Listing Rule obligations.
The Securities and Futures Commission (SFC) of Hong Kong has issued guidance in preparing for the implementation of the uncertificated securities market (USM) regime, scheduled to commence on 16 November. SFC clarified that issuers should complete these amendments by 16 November 2027 The guidance note aims to enhance issuers’ understanding of the framework and support their readiness for participation. The regime refers to a system in which securities such as shares are held and trans