Hong Kong

News & Analysis as of

The Manager-in-Charge Regime: Ruffling feathers in the year of the Rooster?

On 16 December 2016, the Securities and Futures Commission (SFC) announced the introduction of a Manager-in- Charge initiative (MIC Regime) aimed at increasing the accountability of the senior management of Hong Kong licensed...more

SFC to Introduce New Excess Positions: Relevance for Asset Managers

On 21 March 2017, the Securities and Futures Commission (SFC) published its consultation conclusions on proposed changes to the position limit regime in Hong Kong. Expected to come into force on 1 June 2017, the changes...more

Financial Services Quarterly Report - First Quarter 2017: Hong Kong’s New Requirements for “Senior Management” of Fund Managers...

The Securities and Futures Commission of Hong Kong (SFC) recently introduced the “Senior Management Accountability Regime” (regime), in an effort to make senior managers (particularly those who are not already designated as...more

New Documentary Requirements Issued for Hong Kong Exports and Reexports

Effective April 19, 2017, US exporters intending to export certain controlled items to Hong Kong will need to obtain, prior to shipment, either a copy of a Hong Kong import license or a statement issued by the Hong Kong...more

"Swiss" certification mark opposition - Hong Kong court finds actual use likely to confuse

Hogan Lovells represented Federation of the Swiss Watch Industry FH (“Federation”) in a successful appeal against a decision of the Hong Kong Registrar of Trade Marks in an opposition involving the “Swiss” certification mark....more

Listing Reform in Hong Kong

In June 2016, the Securities and Futures Commission (the “SFC”) and the Stock Exchange of Hong Kong Limited (the “HKEx”) issued a joint consultation paper (the “Consultation Paper”) in which they proposed to change the...more

China-Hong Kong Bond Connect on its way!

China has announced the launch of a new initiative that is likely to liberalize the process for foreign investors to invest in the China bond market. As the third largest bond market in the world, this could be a significant...more

Global Privacy & Cybersecurity Update Vol. 13

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

Reminder that the List of Securities Subject to Hong Kong Short Position Reporting will be Expanded with Effect from 15 March 2017

Market participants are currently only required to report short positions in 138 SEHK-listed securities (in accordance with the list of specified shares published by the Securities and Futures Commission (SFC) on 10 February...more

Dealing With Judgment Enforcement in Hong Kong? Two Key Misconceptions to Dispel

Due to its proximity and relationship with the People’s Republic of China, Hong Kong has, at times, suffered from the misconception that it is a difficult jurisdiction within which to freeze assets and enforce judgments or...more

A Bigger Slice of PI: The SFC Consults on Broadening the Categories of High Net Worth Professional Investors

On 1 March 2017, the Securities and Futures Commission (SFC) published a consultation paper on proposals to standardise the rules for prescribing professional investors. The Proposals - The SFC proposes...more

Hong Kong: Update - Proposed application of Madrid System of international registration

For a long time, brand owners wishing to secure registered trade mark rights in Hong Kong have had to do so by obtaining registrations through the Hong Kong Trade Marks Registry. Even though China is a contracting party to...more

U.S.’s Announcement on Welcoming Fintech Companies as Special Purpose Banks: Implication on Hong Kong’s Deposit-taking...

On 2 December 2016, the Office of the Comptroller of the Currency (“OCC”) in the U.S. announced its intention to take applications from fintech companies that wish to obtain a special purpose national bank charter (“The...more

Hong Kong Email Wire Fraud Epidemic - How to retrieve funds and prevent wire fraud

Over the Lunar New Year period, we observed a spate of email wire frauds (or ‘business email scams’) which involve funds being wired internationally to bank accounts in Hong Kong. The amounts transferred vary from a few...more

US SEC and Hong Kong SFC Sign New Memorandum of Understanding

The US Securities and Exchange Commission (SEC) and the Hong Kong Securities and Futures Commission (SFC) have signed a Memorandum of Understanding (MOU) which came into effect on January 18, 2017. The subject of the MOU is...more

Antitrust, Competition and Economic Regulation Quarterly Newsletter - Winter 2017

FTC takes another look at merger remedies - On 3 February 2017, the U.S. Federal Trade Commission (“FTC”) released its Merger Remedies Study, which analyzed the success of merger remedies imposed by the FTC from 2006 to...more

Hong Kong Email Wire Fraud Epidemic - How to retrieve funds and prevent wire fraud

Over the Lunar New Year period, we observed a spate of email wire frauds (or ‘business email scams’) which involve funds being wired internationally to bank accounts in Hong Kong. The amounts transferred vary from a few...more

The Financial Report, Volume 6, Number 3

The Ninth Circuit Court of Appeals in San Francisco is poised to rule on, with respect to President Donald Trump’s recent executive order on immigration, the question of how much power a president has to issue executive...more

This Week In Securities Litigation

Three of the six actions filed this week by the Commission were against registered investment advisers. One involved the misappropriation of funds, another centered on the failure to disclose a related party transaction and a...more

In Chinese Investment Treaties, Questions Arise on Who Qualifies for Protection

Despite recent criticism from some quarters concerning the use of investment treaties and free trade agreements, the Chinese investment treaty system remains firmly in place. Since 1982, the People's Republic of China (PRC)...more

The Financial Report, Volume 6, Number 2

Discussion and Analysis - Last week, Mary Jo White delivered her “farewell address” to The Economic Club of New York upon the completion of her term as the 31st Chair of the Securities and Exchange Commission. Her...more

This Week In Securities Litigation

The SEC is an agency in transition. There are three open slots on the agency waiting to be filled by the President and the Senate. Many of the senior staff positions are also now open including the Director of the Division of...more

Hong Kong Securities Laws Violations: The SFC’s Extra-Territorial Reach – Part 3 (the Court of Appeal in Hong Kong dismissed an...

In August 2016, Hong Kong’s Market Misconduct Tribunal (the “MMT”) found a U.S.-based commentator (Andrew Edward Left) culpable of market misconduct in connection with his research report (“Left’s report”) on the Hong Kong...more

"Regional Focus: Asia"

A number of economic and political factors, both domestic and international, influenced M&A and capital markets activity worldwide in 2016. Skadden attorneys Christopher W. Betts, Will H. Cai, Z. Julie Gao, Bradley A. Klein,...more

Has Hong Kong tightened GEM rules far enough?

Hong Kong’s stock exchange and securities regulator are jointly warning market participants that they are ready to crack down on suspected rule-breaking with respect to listings and share placements on the Growth Enterprise...more

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Cybersecurity

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