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No permission, no problem – Hong Kong securities regulator given green light to bring proceedings directly against overseas...

The Hong Kong Court of Final Appeal has held that the Securities and Futures Commission (SFC) can serve overseas defendants as of right, without needing the court’s permission, making it easier for the SFC to go after persons...more

Financial Institutions Horizons 2023

The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset market. The financial system’s resilience...more

Privilege claimed, privilege protected? English court orders release of "privileged" documents adopting "fraud exception"

The English High Court has issued a stern reminder that legal professional privilege is not absolute, and that orders may be made for the disclosure of documents "notwithstanding any apparent privilege with which they may be...more

Keep out of the way – first Hong Kong conviction for obstruction under s.382 SFO

A Hong Kong court has for the first time convicted and imprisoned an individual for obstructing employees of the Securities and Futures Commission (SFC) in performance of their functions pursuant to the Securities and Futures...more

Dangers of a green sheen – the legal and regulatory risks of ESG "greenwashing" in Hong Kong

Recent incidents such as the United Kingdom (UK) Advertising Standards Authority's banning of a bank's advertisements for potentially misleading consumers about its green credentials and the outcry over an automobile...more

A disappointing sequel? Hong Kong court dismisses challenge to SFC restriction notice regime

The Court of First Instance has dismissed a judicial review application against certain provisions in the Securities and Futures Ordinance (Cap. 571) (SFO) which empower the Securities and Futures Commission (SFC) to issue...more

Hong Kong Competition Commission brings first court case on resale price maintenance

For the first time since the Competition Ordinance came into effect, the Hong Kong Competition Commission (HKCC) has commenced court proceedings against a supplier for resale price maintenance as a contravention of the First...more

Statutory bodies – forced to enforce?

The Hong Kong Court of Appeal (Poon CHJC, Barma, and Au JJA) has imposed upon a statutory corporation an obligation to consider whether it should take measures to enforce a lease against a tenant, following an application by...more

How dear is an antitrust breach in Hong Kong – flat decorators slammed with HK$4 million fines in first penalties judgment

On 29 April 2020, the Competition Tribunal handed down its first judgment on financial penalties in a competition case in Hong Kong. The Tribunal had earlier found that the respondents, ten flat decorators, had contravened...more

Hong Kong Competition Commission expands leniency program

On 29 April 2019, the Hong Kong Competition Commission published its new "cooperation policy." In essence, the cooperation policy expands the authority's leniency program. The expansion occurs in two main directions. First,...more

Do you know where that money is coming from?

The Hong Kong Securities and Futures Commission (SFC) has issued its largest fine ever for violations of anti-money laundering (AML) and counter-terrorist financing (CFT) regulatory requirements....more

Hong Kong court upholds bar on stand-alone private actions under the Competition Ordinance?

The Hong Kong Competition Ordinance ("Ordinance") does not currently provide for the right to bring stand-alone private actions for contraventions of competition rules. In a decision handed down on 27 April 2017, the High...more

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