Update No. 68

Amendments to the rules governing the listing of securities on the GEM (“GEM Listing Rules")
Update No. 68
May 2021
Amendments to the GEM Listing Rules
We have amended the GEM Listing Rules to implement the proposals of the “Consultation Conclusions on the Review of Listing Rules Relating to Disciplinary Powers and Sanctions” published on 20 May 2021.
We have amended the GEM Listing Rules to:
      1.    Amend the existing thresholds for public statements against individuals;
      2.    Introduce public director unsuitability statements against individuals;
      3.    Enhance follow-on actions in relation to public statements against individuals;
      4.    Enhance disclosure requirements for directors and senior management subject to public sanctions;
      5.    Introduce secondary liability for GEM Listing Rule breaches;
      6.    Define “senior management” within listed issuers and their subsidiaries;
      7.    Remove existing threshold for denying facilities of the market to listed issuers; and
      8.    Align relevant parties under the Main Board and GEM Listing Rules and other housekeeping amendments.
Coming into effect
The amendments will come into effect on Saturday 3 July 2021.
Please click HERE to see the amendments to the GEM Listing Rules.