Hong Kong 'to toughen IPO rules'

13 May 2012 Last updated at 23:45 ET Help

Hong Kong's financial regulator has proposed tough new rules to protect investors in its stockmarket.

The Securities and Futures Commission would make underwriters criminally liable for any misleading statements in the prospectus for a new listing.

But as the BBC's Juliana Liu reports, financial institutions are lining up to oppose the changes.

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