Hong Kong

News & Analysis as of

This Week In Securities Litigation

The Commission filed another group of settled actions under its initiative regarding municipal bond underwriters. This time a group of fourteen actions were filed. Each centered largely on claims that the underwriter failed...more

Draft Bill on Open-Ended Fund Companies Gazetted

Following public consultation in March 2014, the Financial Services and the Treasury Bureau (FSTB) has now published the “Consultation Conclusions on Open-ended Fund Companies”, and the related Securities and Futures...more

"Hong Kong Stock Exchange Opens Doors to Russia-Incorporated Issuers"

On January 15, 2016, the Stock Exchange of Hong Kong Limited (HKEx) published its Country Guide on Russia and placed Russia on its list of “acceptable jurisdictions,” formally signifying that Hong Kong’s sole regulated stock...more

IP developments in Greater China

2015 was a year of significant change in the intellectual property (IP) field, with China redoubling its efforts to tackle counterfeit goods, long-awaited and controversial legislative amendments being debated in Hong Kong...more

"Acquisitions of Controlling Interests in Hong Kong-Listed Companies Through Primary Issuances"

Acquisitions that result in a change of control of a Hong Kong-listed company — defined as 30 percent or more of the voting power — trigger a mandatory general offer to all shareholders of the company. The Hong Kong...more

"Recent Shareholder Activism in Asia Could Signal Changing Attitudes"

Levels of shareholder activism are reaching record highs in the United States, and such activity has become increasingly prevalent in Europe. But with the exception of Japan, Asia often is seen as a relative backwater in this...more

This Week In Securities Litigation

The Commission resolved actions with SAC Capital founder Steven Cohen and the former Chairman of Dewey & Leboeuf in addition to filing settled actions against Goldman Sachs and State Street. The agency also filed another...more

Global Private Equity Newsletter - Winter 2016 Edition: Hong Kong Profits Tax Exemption for Private Equity Funds

The Inland Revenue (Amendment) (No.2) Ordinance 2015 (the “Amendment Ordinance”) came into effect on July 17, 2015, extending Hong Kong profits tax exemption to offshore private equity (“PE”) funds....more

This Week In Securities Litigation

During the holiday period the SEC filed three insider trading cases as administrative proceeding. Three actions were brought involving major Wall Street banks; one centered on “parking” allegations involving Morgan Stanley...more

International Arbitration Newsletter - January 2016

UNCITRAL’s Rules on Transparency in Treaty-based Investor-State Arbitration (the Transparency Rules) present challenges to manage the costs of compliance while avoiding the consequences of non-compliance. Transparency in...more

Financial Services Quarterly Report - Fourth Quarter 2015: And a Partridge in a Pear Tree: Top 12 Regulatory Heads-up for the...

1st Day of Christmas – UCITS V* - The UCITS V Directive (UCITS V) introduces specific provisions on: - (i) eligibility, liability and delegation of depositaries; - (ii) remuneration policies;...more

SFC Proposal to Widen the Scope of the Short Position Reporting

On 27 November 2015, the Securities and Futures Commission of Hong Kong (the “SFC”) published the “Consultation to expand the scope of short position reporting and on the corresponding amendments to the Securities and Futures...more

Restructuring eNewsletter - Global Insight Series: Separate and independent rights for lenders - Can lenders go at it alone?

In the recent Hong Kong Court of First Instance case Charmway Hong Kong Investment v Fortunesea (Cayman) Ltd & Ors [2015] HKCU 171, the court considered whether an individual lender has the right under a syndicated credit...more

Tax Newsletter - September/October 2015 (China & Hong Kong)

Welcome to the latest issue of our Tax Newsletter. A number of developments have taken place in the PRC and Hong Kong that could be of legal and tax significance to your businesses. In the PRC, the State...more

Hong Kong Regulatory Update - December 2015

This Hong Kong regulatory update provides a brief overview of the principal Hong Kong regulatory developments in the preceding three months relevant to companies listed or proposed to be listed on The Stock Exchange of Hong...more

Permanent Court of Arbitration Tribunal declines jurisdiction to hear Philip Morris’ challenge to Australia’s plain packaging laws...

News has just emerged that the Permanent Court of Arbitration (“PCA”) declined jurisdiction in a unanimous decision to hear the merits of Philip Morris’ expropriation claim against the Commonwealth of Australia. Philip...more

Hong Kong Competition Ordinance Takes Effect: The Latest Jurisdiction Regulating How Companies Compete

On December 14, 2015, Hong Kong became the latest jurisdiction to prohibit anticompetitive agreements and unilateral conduct. The Competition Ordinance (Ordinance) is Hong Kong’s first cross-sector competition law for this...more

The Hong Kong Competition Ordinance - December 2015, the D Day

On 14 June 2012, the Hong Kong Legislative Council passed the first cross-sector competition law in Hong Kong, the Competition Ordinance (Ordinance). The Ordinance created the Competition Commission (the Commission), which...more

The New Kid on the Block: Hong Kong’s New Competition Law Regime Has Come into Full Effect

Today Hong Kong's Competition Ordinance has come into full effect. The Ordinance gives Hong Kong its first general competition law that applies to all sectors of the economy. Please see full Memo below for more...more

ESMA and SFC agree derivatives MoU

ESMA and the Securities and Futures Commission (SFC) of Hong Kong have concluded a memorandum of understanding (MoU), the first that will allow the exchange of information on derivative contracts held in trade repositories....more

Happy Holidays: VTech data breach affects over 11 million parents and children worldwide

The recent data breach of Hong Kong-based electronic toy manufacturer VTech Holdings Limited (“VTech” or the “Company”) is making headlines around the world for good reason: it exposed sensitive personal information of over...more

Technology, Media and Telecommunications Review – Hong Kong

Hong Kong has one of the most developed telecommunications and internet services markets in the world. Its legal and regulatory system promotes competitiveness while at the same time striving to enhance and facilitate...more

Market Volatility Delays Shenzhen-Hong Kong Stock Scheme Launch

On November 17, 2015, at a ceremony in Hong Kong marking the first anniversary of the Shanghai-Hong Kong Stock Connect scheme, Hong Kong Exchanges and Clearing (HKEx) chief executive Charles Li Xiaojia confirmed that the...more

2015 Proskauer Annual Review and Outlook for Hedge, Private Equity and Other Private Funds

Proskauer has released the 2015 Proskauer Annual Review and Outlook for Hedge, Private Equity and Other Private Funds. The 88-page report is a summary of significant legal changes and developments in the private funds space...more

Economic Freedom, “Hong Kong Style”: Respecting Privacy And Ensuring Companies Can Resolve Disputes Efficiently

Hong Kong has always been known for its economic freedom. However, that economic freedom needs rules and protections to operate on a day-to-day basis. Recently, Hong Kong has taken bold steps forward with new rules and...more

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