01/06/2026
【Transition to a paperless securities environment】
As a member of the Standing Committee on Company Law Reform ( ), my duty to stay abreast of relevant developments.
The Securities and Futures Commission ( ) has issued new guidance to help securities issuers prepare for Hong Kong’s upcoming Uncertificated Securities Market (USM) regime, targeted for launch on 16 November 2026.
https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=26PR80
This guidance highlights issuers’ key obligations under the USM framework, including the need to review and amend constitutional documents (such as articles of association) and to appoint an approved securities registrar (ASR) within the prescribed timeframe.
The Standing Committee on Company Law Reform (SCCLR) was set up in 1984. It advises the Financial Secretary on amendments to the Companies Ordinance and the Companies (Winding Up and Miscellaneous Provisions) Ordinance, as well as amendments to the Securities and Futures Ordinance on matters relating to corporate governance and shareholders' protection, as and when necessary.
【 邁向 無紙證券市場制度 】
作為 #公司法改革常務委員會 委員,留意相關發展是份內事。
#證監會 最新發佈指引,協助 #發行人 為即將於 2026 年 11 月 16 日推出的 #無紙證券市場制度(Uncertificated Securities Market, USM)制度作好準備。
https://apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/doc?refNo=26PR80
該指引重點說明發行人在 USM 架構下的主要責任,包括需要檢討及修訂 #組織章程大綱及細則 等文件,以及在規定期限內委任 #核准證券登記機構 。
公司法改革常務委員會在1984年成立,其職能是就《公司條例》和《公司(清盤及雜項條文)條例》的修訂,以及就《證券及期貨條例》當中有關 #企業管治 和 #保障股東 事宜的修訂,按需要向財政司司長提供意見。
#黃巧欣律師