The case involves substantive litigation that could yield important legal principles for the treatment of decentralised projects.
Decentralised autonomous organisations (DAO) are unique structures that operate...more
In the December 2023 edition of Regulatory Updates in Asia ESG we provided an update on how jurisdictions across Asia are responding to the International Sustainability Standards Board (ISSB) standards. Several regulators in...more
9/3/2024
/ Asia ,
Climate Change ,
Consultation ,
COP ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Hong Kong ,
IFRS ,
International Regulatory Standards ,
IOSCO ,
Regulatory Standards ,
Sustainability ,
Sustainable Business Practices
The government will enact the new legislation to bring issuers of fiat-referencing stablecoins into the regulatory perimeter.
On 17 July 2024, the Financial Services and the Treasury Bureau and the Hong Kong Monetary...more
7/29/2024
/ Blockchain ,
Compliance ,
Consultation ,
Corporate Issuers ,
Court of Justice of the European Union (CJEU) ,
Cross-Border ,
Cryptoassets ,
EU ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Licensing Rules ,
Sandbox ,
Stablecoins
Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products.
On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more
3/5/2024
/ Banks ,
Consultation ,
Corporate Governance ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Due Diligence ,
Financial Institutions ,
Financial Services Industry ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
New Guidance ,
Risk Management ,
Token Sales ,
Tokenization
Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business.
On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a...more
2/26/2024
/ Asset Tokens ,
Banking Sector ,
Basel Committee on Banking Supervision (BCBS) ,
Consultation ,
Cryptoassets ,
Financial Services Industry ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Popular ,
Prudential Standards ,
Stablecoins ,
Treasury Regulations
On 8 February 2024, the Financial Services and the Treasury Bureau (FSTB) released a consultation paper on its legislative proposal to introduce a regulatory regime governing over-the-counter (OTC) trading of virtual assets...more
The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public.
On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and...more
As ESG regulation in Asia develops at an increasing pace, Latham lawyers give an update on noteworthy developments across the region covering the second half of the year. ...more
12/13/2023
/ Asia ,
Asia Pacific ,
China ,
Cross-Border ,
Environmental Social & Governance (ESG) ,
Hong Kong ,
Indonesia ,
Japan ,
Malaysia ,
Philippines ,
Popular ,
Singapore ,
Sustainability
Hong Kong’s highest court confirms that its financial markets regulator may serve proceedings on foreign defendants for restoration orders as of right.
The Hong Kong Court of Final Appeal (CFA) held in a recent judgment...more
A new guidance creates a regulatory framework for tokenisation of retail investment products and provision of services for tokenised financial instruments. By Simon Hawkins and Adrian Fong On 2 November 2023, the Securities...more
Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets.
On 20 October 2023, the Hong Kong Monetary...more
10/30/2023
/ Asset Management ,
Cryptoassets ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Institutional Investors ,
Investment Adviser ,
Investors ,
Joint Policy Statements ,
New Guidance ,
Regulatory Authority ,
Retail Investors ,
Trading Platforms
SFC proposes guidelines for intermediaries conducting and receiving market soundings in securities and capital market transactions.
On 11 October 2023, the Securities and Futures Commission (SFC) issued a consultation...more
The ruling confirms that courts will consider substance over form when assessing collective investment scheme arrangements and exemptions under securities law.
On 2 August 2023, the Hong Kong Court of Appeal handed down...more
As ESG regulation in Asia develops at an increasing pace, Latham lawyers give an update on noteworthy developments across the region....more
8/28/2023
/ Asia ,
China ,
Climate Change ,
Consultation ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Hong Kong ,
Japan ,
Monetary Authority of Singapore ,
Popular ,
Regulatory Requirements ,
Singapore ,
South Korea
The Monetary Authority of Singapore announced a new framework that seeks to ensure value stability for stablecoins regulated in Singapore.
On 15 August 2023, the Monetary Authority of Singapore (MAS), Singapore’s primary...more
The HKMA and the SFC permit relaxation of suitability and other regulatory requirements while dealing with high-net-worth and experienced investors.
On 28 July 2023, the Hong Kong Monetary Authority (HKMA) and the...more
8/21/2023
/ Accredited Investors ,
Code of Conduct ,
Financial Regulatory Agencies ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investors ,
Joint Policy Statements ,
New Guidance ,
Professional Investors ,
Regulatory Authority
MAS has published new requirements for DPT service providers and a consultation paper on additional regulations and prohibitions against unfair trading practices.
On 3 July 2023, the Monetary Authority of Singapore...more
7/21/2023
/ Blockchain ,
Consultation ,
Custody ,
Financial Institutions ,
Financial Services Industry ,
Monetary Authority of Singapore ,
Payment Systems ,
Payment Tokens ,
Singapore ,
Token Sales ,
Trusts
The regulatory perimeter continues to expand as the Securities and Futures Commission introduces a comprehensive regime to regulate virtual asset service providers.
This Client Alert reviews key obligations and...more
This is the first decision by the Hong Kong Court on whether clients of a crypto exchange have proprietary claims to cryptocurrencies held on the platform. It confirms that cryptocurrency constitutes property under Hong Kong...more
Insurance Ordinance amendments would create a risk-based capital regime aligned with international standards.
On 6 April 2023, the Hong Kong government introduced the Insurance (Amendment) Bill 2023 into the Legislative...more
The latest statements from the government and regulators indicate that Hong Kong is moving forward with enhancing its virtual asset regulatory and legal regime.
The Hong Kong government and the Securities and Futures...more
The global central bank cooperative body would bring stablecoins within the international standards for payment, clearing, and settlement systems....more
8/2/2022
/ AML/CFT ,
Bureau of Industry and Security (BIS) ,
Committee on Payments and Market Infrastructure (CPMI) ,
EU ,
Final Guidance ,
Financial Markets ,
Financial Stability Board ,
Hong Kong ,
Information Reports ,
IOSCO ,
Japan ,
Payment Systems ,
Regulatory Agenda ,
Risk Management ,
Stablecoins ,
UK
On 24 June 2022, the Hong Kong government published in the Gazette the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (Amendment Bill). The Amendment Bill proposes amendments to the Anti-Money...more
The SFC issued a statement to clarify its regulatory approach in relation to non-fungible tokens and remind investors of related risks.
On 6 June 2022, the Hong Kong Securities and Futures Commission (SFC) issued a...more
Intermediaries in bookbuilding and placing activities should prepare for the new rules, which will take effect on 5 August 2022.
The Securities and Futures Commission of Hong Kong (SFC) published the “Consultation...more