Resources
Hong Kong – New Conduct Requirements For Offline Sale Of Complex Products
On 4 October 2018, the Securities and Futures Commission (SFC) published its Consultation Conclusions on Offline Requirements Applicable to Complex Products (Conclusions). The consultation, which was launched on 28 March 2018, focused on proposed...
Hong Kong – The SFC’s Green Finance Strategy – Impact On Asset Managers
On 21 September 2018, the SFC announced its strategic framework for the development of green finance in Hong Kong. According to the SFC, “Globally, green finance has gathered momentum since the 2015 Paris Agreement on climate change, which calls for...
Hong Kong – When Will The Court Give Leave To Appeal An Arbitration Award On A Question Of Law?
It is the policy of the Hong Kong Courts to give finality to arbitral awards. Parties may opt into Schedule 2 (Schedule 2) of the Arbitration Ordinance if they want to retain their right to appeal against an arbitral award on a question of law. An applicant has...
Hong Kong – New SFC AML Guideline Effective 1 November 2018
On 12 October 2018, the SFC issued the Consultation Conclusions on Proposed Amendments to the (1) Guideline on Anti-Money Laundering and Counter-Terrorist Financing (Current Guideline) and (2) Prevention of Money Laundering and Terrorist...
Hong Kong 2018 Policy Address – How It Affects Employers And Employees?
On 10 October 2018, the Chief Executive Carrie Lam released the 2018 Policy Address, in which she put forward various proposals which aim to benefit employees in Hong Kong. A. Abolition of the MPF offsetting mechanism In the 2018...
Hong Kong – Launch Of UK-HK Mutual Fund Recognition
The SFC and the UK’s Financial Conduct Authority (FCA) issued a memorandum of understanding on 8 October 2018 establishing a bilateral framework for mutual recognition of cross-border fund offerings to retail investors in the UK and Hong Kong (UK-HK MRF)....
Hong Kong SFC Increasing Focus On Green Finance And ESG
At a recent luncheon with the Hong Kong Investment Funds Association, Ashley Alder, Chief Executive Officer of the Securities and Futures Commission (SFC), gave an update on the SFC’s strategy for the Hong Kong asset management industry. Besides reflecting on where...
Hong Kong’s New Tax Regime Comes Into Force – Significant Implications For Intellectual Property Owners
With the growing importance of intellectual property (IP) as one of the key drivers to profitability, the ownership and use of IP within multinational corporate groups are coming under increasing scrutiny. The Inland Revenue (Amendment) (No.6) Ordinance 2018 came into...
Hong Kong SFC Publishes AML/CFT Inspection Findings And Urges Intermediaries To Ensure Compliance.
The Securities and Futures Commission (SFC) issued a circular on 31 August 2018 highlighting both deficiencies and good practices observed in relation to anti-money laundering and counter financing of terrorism (AML/CFT) compliance by...
Hong Kong Competition Commission Brought Its First Legal Action Against Individuals
On 6 September 2018, the Hong Kong Competition Commission (Competition Commission) filed its third legal action with the Hong Kong Competition Tribunal (Competition Tribunal) against three decoration contractors – Kam Kwong Engineering Company Limited (Kam...
