After six months of consultation, the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Bill 2021 ("Bill") providing for a tax concession for a 0% profits tax rate on eligible carried interest ("Tax...more
The Hong Kong government on 20 March 2020 published the Limited Partnership Fund Bill ("Bill") which provides for a new limited partnership regime for private funds ("LPF") in Hong Kong.1 As we see a greater number of fund...more
4/8/2020
/ Asia ,
Coronavirus/COVID-19 ,
Delays ,
General Partner ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Management ,
Limited Partnership Funds ,
Private Equity Funds ,
Proposed Amendments ,
Registration Requirement ,
Securities and Futures Ordinance (SFO)
The Hong Kong Securities and Futures Commission (SFC) issued a circular (Circular) on January 7, 2020, which clarifies that private equity firms conducting, or holding themselves out as conducting, regulated activities in...more
The Hong Kong Securities and Futures Commission (SFC) issued a circular (Circular) on January 7, 2020, which clarifies that private equity firms conducting, or holding themselves out as conducting, regulated activities in...more
2/5/2020
/ Asset Management ,
Co-Investment Rights ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Licensing Rules ,
New Circular ,
Private Equity ,
Private Equity Firms ,
Privately Held Corporations ,
Securities and Futures Ordinance (SFO)
The Hong Kong Financial Secretary announced in his 2019-20 Budget speech that the government was seeking to establish a limited partnership regime for funds (LPF), in order to facilitate industry development while maintaining...more
1/18/2020
/ AML/CFT ,
Anti-Money Laundering ,
Asia ,
Cayman Islands ,
Consultation Papers ,
Counter-Terrorist ,
Financial Services Industry ,
Fund Managers ,
General Partner ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Management ,
Investor Protection ,
Limited Partnerships ,
Private Equity Funds ,
Proposed Legislation ,
Recordkeeping Requirements ,
Registration Requirement ,
Safe Harbors ,
Singapore ,
Stamp Duty Land Tax
In light of an increasing demand for virtual asset investment products, the Hong Kong Securities and Futures Commission (SFC) has been taking steps to clarify the legal and regulatory requirements for this market. In this...more
11/6/2019
/ Asset Management ,
Digital Assets ,
Digital Currency ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Funds ,
Investment Management ,
Investment Portfolios ,
Investors ,
Licensing Rules ,
Portfolio Managers ,
Terms and Conditions ,
Utility Tokens ,
Virtual Currency
The Hong Kong Securities and Futures Commission (SFC) has announced that it reprimanded and fined a Hong Kong private equity firm, SEAVI Advent Ocean Private Equity Limited (PE Firm), for employing or appointing unlicensed...more
11/2/2019
/ Asset Management ,
Breach of Duty ,
Code of Conduct ,
Debentures ,
Enforcement Actions ,
Fines ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investors ,
Licensing Rules ,
Private Equity Firms ,
Private Investment Funds ,
Professional Disciplinary Actions ,
Securities ,
Unlicensed Professionals
The Guidelines on Online Distribution and Advisory Platforms (Guidelines) issued by the Hong Kong Securities and Futures Commission (SFC) will become effective on 6 July 2019. With the recent expansion of various online...more
7/3/2019
/ Code of Conduct ,
Complex Financial Products ,
Derivatives ,
Final Guidance ,
Governance Standards ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Funds ,
Investment Products ,
Online Platforms ,
Operators ,
Public Consultations ,
Robo-Advisors ,
Suitability Requirements
The China Securities Regulatory Commission (CSRC) earlier this year invited public comments on a new consolidated regime under draft regulations (Draft Regulations) for Qualified Foreign Institutional Investors (QFIIs) and...more
A new profits tax exemption ordinance (Bill)1 became effective on 1 April 2019. The Bill introduces a Private Funds Exemption, which has significant implications for the private funds industry. Benefits include: fund managers...more
5/9/2019
/ Amended Rules ,
Business Profits ,
Business Taxes ,
Companies Ordinance ,
EU ,
Hong Kong ,
Non-Residents ,
Private Funds ,
Ring-Fencing ,
Special Purpose Entities ,
Tax Exemptions