Jail for Hong Kong directors over false accounting

Link: SEC blocks Sarbox escape from US

The proposed rules would empower Hong Kong’s main securities regulator, the Securities and Futures Commission, to investigate and impose fines on those who have breached its rules following a demand from the body for greater responsibility over stock market listing rules.

They would also put false accounting disclosure on the same level as insider trading and price manipulation. Previously, such misconduct was only subject to a reprimand from the exchange, according to the Financial Times.

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