SFC publishes final Market Sounding Guidelines
Key takeaways for capital markets transactions
On 31 October 2024, the Securities and Futures Commission (the “SFC”) published its Consultation Conclusions on the Proposed Guidelines for Market Soundings (the “Guidelines”), following a year-long market consultation process after the publication of its consultation paper in October 2023 (the “Consultation Paper”).
In a welcome sign, the Guidelines have addressed a number of the key areas of feedback provided by industry participants to the SFC in response to the Consultation Paper, particularly insofar as the Guidelines apply to certain capital markets transactions. Linklaters have been at the forefront of these discussions and have assisted key industry and professional associations, both in their formal submissions and in industry discussions, across our leading debt capital markets ("DCM"), financial regulatory and equity capital markets ("ECM") teams.
In this newsletter, we summarise the key takeaways from a DCM and ECM perspective.
