In response to a surge in new listing applications throughout 2025, the Securities and Futures Commission (SFC) and the Stock Exchange of Hong Kong Limited (HKEx) have issued important updates for Sponsors and licensed corporations. The December 2025 Joint Letter and the January 2026 SFC Circular highlight growing concerns over declining quality and non-compliance in IPO submissions, warning of serious consequences for poor conduct.
Sponsors must now meet higher standards to avoid delays, licence restrictions, or disciplinary action. Read our flyer to learn more about the latest regulatory changes and how to stay compliant.
