What is it?
Hong Kong’s Securities and Futures Commission (SFC) has proposed tougher rules for sponsors of initial public offerings (IPOs), which would make them civilly and criminally liable for the contents of IPO prospectuses. The IPO sponsor, a role distinct to the Hong Kong market, is a licensed corporate finance advisor that works to prepare a company for listing, with responsibilities including the preparation of all relevant documentation and the overseeing of other professional advisors to the offering.
