Olivia Lee

According to Olivia Lee, partner at Hong Kong law firm White & Case, the more stringent disclosure requirements are aimed at preventing companies from circumventing new listing requirements by way of a 'backdoor listing' via a reverse takeover.

At White & Case, Hardee will work closely with Olivia Lee who heads the firm's Hong Kong capital markets group.

??That's very scary not only for the public companies but also for their senior management that it is now possible for shareholders to bring lawsuits against them,?? said Olivia Lee, head of capital markets and a managing partner at White & Case Solicitors.She said supervisors, including members of the board, could be liable for misconduct of their employees.,,

The new law, the Securities and Futures Ordinance, will bring profound changes to the Hong Kong markets, imposing tougher disclosure requirements and establishing a more rigorous policing of listed companies.The law replaces a 28-year-old regulatory system and is intended to provide greater protection for investors there.,,

And it also brings Hong Kong more in line with countries such as the United States, which strengthened its own system with the Sarbanes-Oxley Act of 2002 and related regulations following a flurry of corporate accounting scandals and subsequent bankruptcies.,,

Under the Hong Kong ordinance, a government agency known as the Securities and Futures Commission will serve as the primary regulator of market disclosure.
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"That's very scary not only for the public companies but also for their senior management that it is now possible for shareholders to bring lawsuits against them," said Olivia Lee, head of capital markets and a managing partner at White & Case Solicitors.She said supervisors, including members of the board, could be liable for misconduct of their employees.

The new law, the Securities and Futures Ordinance, will bring profound changes to the Hong Kong markets, imposing tougher disclosure requirements and establishing a more rigorous policing of listed companies.The law replaces a 28-year-old regulatory system and is intended to provide greater protection for investors there.

And it also brings Hong Kong more in line with countries such as the United States, which strengthened its own system with the Sarbanes-Oxley Act of 2002 and related regulations following a flurry of corporate accounting scandals and subsequent bankruptcies.

Under the Hong Kong ordinance, a government agency known as the Securities and Futures Commission will serve as the primary regulator of market disclosure.