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  • Disclosure of Material Information

    • CRA-15.2.19

      A digital token issuer must immediately disclose information regarding any material matter/event on the appointed digital token advisor’s platform. Information would be regarded as material if its omission or misstatement could change or influence the assessment or decision of an investor relying on that information for the purpose of making economic decisions.

      Added: April 2023

    • CRA-15.2.20

      For the purposes of CRA-15.2.19, the following are examples of events that are to be considered material:

      (a) Loss of creditworthiness;
      (b) Searches and seizures by law enforcement authorities, any litigious or non-litigious matter, administrative disposition, administrative litigation, precautionary injunctive procedure, or compulsory execution, with a material effect on the finances or business or project of the digital token issuer;
      (c) Major decrease in operations or a full or partial work stoppage;
      (d) A pledge/lien on all or a major portion of its assets;
      (e) Amendment, termination, or rescission of memorandum and articles of association;
      (f) A plan for strategic alliance or other business cooperation plan or important contract, or a change in important content of a business plan, or purchase of an enterprise, or acquisition of or assignment to another of patent rights, trademark rights, copyrights, or other intellectual property related transactions, with a material effect on the finances or business or project of the digital token issuer;
      (g) Occurrence of a disaster, protest, strike, environmental pollution event, information security incident, with a material effect on the finances or business of the digital token issuer;
      (h) The resignation, dismissal or appointment of any key Board/management personnel;
      (i) Material changes to the equity holding held by the board of directors or senior management;
      (j) Change in the registered office address, legal name, financial year-end, or external auditor;
      (k) Resolution by the board of directors to repurchase (buyback) digital tokens, expiration of a repurchase (buyback) period, or completion of execution of a repurchase (buyback);
      (l) Resolution by the board of directors to apply for termination of trading of the issuer's digital tokens on the trading platform; and
      (m) Announcement of suspension or termination of trading of the digital tokens on the trading platform.
      Added: April 2023

    • CRA-15.2.21

      To ensure equal access to information, a digital token issuer must not externally disclose any material information on its own before publishing it on the appointed digital token advisor’s platform.

      Added: April 2023

    • CRA-15.2.22

      If there is any material change in the development of subsequent events with respect to material information that a digital token issuer has already published, the digital token issuer must update or supplement in a timely manner the content of the relevant information in accordance with the procedure under which the information was originally disclosed.

      Added: April 2023