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Hong Kong bourse proposes changes to reviews for listing committee decisions

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Hong Kong bourse proposes changes to reviews for listing committee decisions

The Stock Exchange of Hong Kong Ltd. proposed changes to the review structure for listing committee decisions in order to enhance governance within the structure, as well as promote transparency, accountability and consistency in decision-making.

The exchange proposed to revise the current two-level review structure for decisions of material significance made by the listing committee so that those decisions will be subject to only one level of review. It also recommended discontinuing the listing appeals community.

The bourse also suggested the establishment of a new independent review committee made up entirely of outside market participants to replace the listing (review) committee and the listing (disciplinary review) committee.

In addition, the exchange proposed to routinely publish the decisions of the new review committee for nondisciplinary matters.

The bourse is seeking public opinion on the proposals until Oct. 12.

The Stock Exchange of Hong Kong is a unit of Hong Kong Exchanges & Clearing Ltd.