News & Analysis as of

Banks Hong Kong

A&O Shearman

Insolvency vs Arbitration – Privy Council’s revival of the “Established Approach”

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How does an arbitration clause, or an exclusive jurisdiction clause in favour of foreign courts, affect insolvency proceedings? The effect of an arbitration clause, or an exclusive jurisdiction clause in favour of foreign...more

Latham & Watkins LLP

Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

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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

Cadwalader, Wickersham & Taft LLP

Hong Kong’s Central Banking Institution Directs Banks to Ramp Up Net Zero Transition Planning

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de facto central banking institution, issued a directive for banks setting out high-level principles on planning for a transition to a net-zero economy. In a “Dear CEO”...more

A&O Shearman

Allen & Overy and Standard Chartered launch guide to payment regulations in Asia

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Allen & Overy and international banking group Standard Chartered have today launched the first Guide to Payment Regulations for corporates and fintech customers navigating the evolving payments landscape in eight key markets...more

A&O Shearman

Regulatory Roadmap for a Brave and Ambitious Year of the Tiger

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We anticipate a number of important regulatory developments in Hong Kong in the course of the year. ...more

Latham & Watkins LLP

Hong Kong’s New Crypto Regulatory Framework to Facilitate Greater Institutional Participation

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Regulators released comprehensive guidance to banks, intermediaries, and insurers on virtual asset-related activities. Key Points: ..Banks and intermediaries looking to provide distribution, dealing, and advisory...more

A&O Shearman

Hong Kong ‘No Consent’ letters not guaranteed to freeze bank accounts

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The Hong Kong Police Commissioner's use of the 'No Consent Regime' to encourage three banks to freeze customer bank accounts, in circumstances where the banks had no independent suspicion of unlawful activity by bank account...more

Hogan Lovells

"Too good to be true" – Hong Kong court finds bank not liable for fraudulent investment introduced by employee

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The court in Luk Wing Yan v. CMB Wing Lung Bank Ltd. [2021] HKCFI 279 found the defendant not liable for the actions of one of its employees who fraudulently offered investments which caused loss to the plaintiff. ...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for May 2019

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Just days after Facebook announced its shift to more private communications, the company’s chief product officer (and longtime Zuck inner-circler) Chris Cox and WhatsApp head Chris Daniels are both heading out the door,...more

A&O Shearman

Banks’ obligations to give foreign insolvency officeholders access to information and assets – a clear distinction

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Speed read - On 7 February 2018, the Court of First Instance (CFI) published reasons for its decision in China Lumena New Materials Corp. Justice Harris reaffirmed his earlier decision and held that where foreign...more

Dechert LLP

Financial Services Quarterly Report - Third Quarter 2017: Global Update: Regulators Focus on Initial Coin Offerings

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Since January 2017, more than $2 billion has been raised through the rapidly growing market for so-called “token sales” or “initial coin offerings” (ICOs). The U.S. Securities and Exchange Commission (SEC) announced on July...more

Jones Day

Global Privacy & Cybersecurity Update Vol. 13

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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

Latham & Watkins LLP

Cross Border Financing Report 2015, Hong Kong

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Section 1 – Bank licences - 1.1 What licences or approvals do lenders need to have if lending to a borrower in this jurisdiction if a) the lender is a bank or b) the lender is not a bank? Under the Money Lenders...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The debate over waivers WKSI waivers and other similar provisions continued this week. The Commission granted a WKSI waiver to Deutsche Bank despite a guilty plea to criminal felony charges but only over the dissent of...more

Dorsey & Whitney LLP

Bitcoin – The Ever “Curiouser and Curiouser” Bitcoin Wonderland – Part Eleven

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“Virtual currencies” in general, and bitcoin in particular, continue to attract media attention as well as intense public and regulatory scrutiny. In the United States, the recent establishment of the Digital Currency...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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FCPA enforcement was the focus this first week of the new year. The DOJ brought FCPA and Travel Act charges against an individual alleged to have repeatedly bribed an official of the European Bank of Reconstruction and...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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Supreme Court Justices Scalia and Thomas indicated that the High Court may at some point consider a question regarding the application of insider trading law in criminal cases and the deference due, if any, to the...more

Dorsey & Whitney LLP

Bitcoin – Migration from China to Hong Kong – Part Nine

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“Virtual currencies” in general, and bitcoin in particular, continue to attract frenzied media attention coupled with immense public and regulatory scrutiny as an ever increasing number of countries review and clarify their...more

Latham & Watkins LLP

Hong Kong Banks Pledge to Treat Customers Fairly

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Public pressure over vulnerable populations spurs banks to act - On 28 October 2013, 22 retail banks in Hong Kong launched the Treat Customers Fairly Charter (Charter) to enhance customer protection and education in...more

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