Sidley Delivers Seminar on Navigating Regulatory Investigations to a Record Turnout

On December 18, 19, and 23, 2024, partner Stephanie Chan, senior managing associate Adrian Tang, and associate Celia Chong of Sidley’s Hong Kong office delivered a webinar on “Navigating Regulatory Investigations” to over 1,200 attendees via the professional development platform hosted by the Office of The Honorable Edmund Wong Chun Sek, FCPA (Practicing) and a member of the Legislative Council of the HKSAR representing the Accountancy Functional Constituency. The Honorable Edmund Wong Chun Sek opened and moderated the webinar.

The event brought together professional accountants, directors, company secretaries, and other professionals in the commercial sector to learn more about the approach adopted by the Hong Kong financial regulators (the Securities and Futures Commission, the Stock Exchange of Hong Kong Limited, and the Accounting and Financial Reporting Council) in conducting regulatory investigations, the regulators’ recent enforcement priorities in relation to listed issuers’ business affairs, financial reporting, disclosures and director’s duties, and audit failures by auditors of listed issuers. The team and Honorable Edmund Wong also exchanged views on the practical challenges faced by accountants and other governance professionals in the prevailing regulatory environment.

Apart from providing a general overview of the regulatory enforcement approach, Stephanie, Adrian, and Celia also shared their insights on the recent enforcement trends and practical tips for directors (particularly independent non-executive directors) of listed issuers to comply with the various duties and obligations, including in terms of financial reporting and the proper approach in handling regulatory enquiries and investigations.

The high turnout is unprecedented and affirms the strong interest and commitment across the accounting and business sectors to foster greater compliance with local laws and regulations concerning management, corporate governance, and financial reporting under the prevailing regulatory framework.