SFC pushes for tighter rules on IPO sponsors

The Securities and Futures Commission will propose making errant sponsors of initial public offerings criminally liable from October next year.

"The changes, along with a streamlined regulatory process, will incentivise sponsors to raise standards, pick the right deals and manage them well, which should in turn reduce risks for investors and all those involved in [initial public offerings]," SFC chief executive Ashley Alder said yesterday in announcing the commission's final proposals on regulating listing sponsors.

via Business feed http://www.scmp.com/business/banking-finance/article/1103907/sfc-pushes-tighter-rules-ipo-sponsors