Jake's View | Overpaid box tickers at SFC leave us none the wiser about price-sensitive information
Ask and you shall receive. The Bible says so, the Securities and Futures Commission complied and the prophecy was fulfilled beyond expectation.
"The newsletter also reminds listing sponsors to look critically at what constitutes meaningful disclosures and not take a mechanical box-ticking approach."
Ask and you shall receive. The Bible says so, the Securities and Futures Commission complied and the prophecy was fulfilled beyond expectation.
It happened when the SFC introduced a new rule last year requiring listed companies to publish all price-sensitive information or face the consequences.
What is price-sensitive information?
Well, that would be information to which the share price might be sensitive. Alternatively you might consider it a sensitivity of the share price to information. Then again you might think of it as a share price information sensitivity nexus.
Don't laugh. The SFC has never done any better in defining it, which leaves the corporate executive in a quandary. Get it wrong and he could find himself in front of an SFC Market Misconduct Tribunal, where the definition will be whatever SFC regulators choose it to be at the time.