Immediate Action Required in face of USM and IAP Deadlines
The two reforms launched by Hong Kong Exchanges and Clearing Limited (HKEX) this year impact all companies listed in Hong Kong and carry compliance deadlines. The “Uncertificated Securities Market” (USM) regime will officially take effect on November 16, 2026, alongside the simultaneous implementation of corresponding amendments to the Main Board Listing Rules (the “Listing Rules”); concurrently, the next-generation regulatory communication platform, “HKEX Issuer Access Platform” (“IAP” or “Issuer Access”), will accept registrations in phases starting from the second quarter of 2026, with full implementation expected by 2026.
20260529 The Era of Paperless Shares and Digital Governance