On 26th March, Hogan Lovells published an article about a guidance letter from the Stock Exchange of Hong Kong (HKEx) that provides additional clarity on the types of activities by listing applicants in jurisdictions, or with persons or entities, which are subject to economic or trade sanctions that may be a concern to the HKEx as it evaluates a listing applicant’s suitability for listing. The Guidance Letter expands the jurisdictions whose sanctions regulations a listing applicant must consider beyond the original 4 jurisdictions that were covered in a previous guidance letter in 2013. The 2013 guidance referred to sanctions imposed by the US, EU, UN and Australia. Now the applicant must consider laws and regulations of any jurisdiction that is relevant to the listing applicant and has sanctions related laws or regulations – presumably meaning that the applicant has to consider whether any jurisdiction with which it has a relevant nexus, has sanctions laws and regulations, and whether the listing applicant has complied with them. This may in practice require a bit of extra due diligence. It also introduces a new concept of a “Sanctions Trader” as an entity that will be subject to the guidance, and it states that a Sanctions Trader may not be suitable for listing.