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15A.13

An issuer of non-collateralised structured products must also:-

(1) have a credit rating which is one of the top three investment grades awarded by a credit rating agency recognized by the Exchange. A credit rating which is presently of such grade but which is under review for possible downgrading to less than such grade will not be regarded as fulfilling this criteria; or
(2) be regulated by the Hong Kong Monetary Authority or an overseas regulatory authority acceptable to the Exchange, or
(3) be regulated by the Commission for the conduct of the business of dealing in securities in Hong Kong (Note), or

Note: Corporations which have been either:
(a) licensed or registered under section 116(1) or 119(1) of the Securities and Futures Ordinance; or
(b) registered as a securities dealer under the repealed Securities Ordinance, and deemed to be licensed or registered under section 116(1) or 119(1) of the Securities and Futures Ordinance;
are required to notify the Intermediaries Supervision Department of the Commission as soon as possible of their intention to issue any structured products and to give to the Commission as much detail of the proposed issue as is available at the time of notification. A copy of such notification must be given to the Exchange before the Exchange will consider any application for listing structured products.
(4) be a government or state, or a body which is backed by the full faith and credit of a government or state.