On October 31, 2023, the International Capital Market Association (ICMA) announced that it would be forming a working group to develop a voluntary code of conduct for Hong Kong-based ESG ratings and data providers. ICMA will...more
In our previous alerts (Part I and Part II), we provided a brief overview of the new Dual Licensing Regime and highlighted some of the key aspects of the new regime, particularly those set out under the Guidelines for Virtual...more
The Stock Exchange of Hong Kong(SEHK) launches board diversity repository and enhances ESG academy SEHK launched a board diversity repository to improve access to information on and transparency around board diversity, and...more
The Stock Exchange of Hong Kong Limited (SEHK) takes disciplinary action against a former director of Winto Group (Holdings) Limited (the Company) (Stock Code: 8238) - The GEM Listing Committee of SEHK (the GEM Listing...more
The Stock Exchange of Hong Kong Limited (SEHK) publishes revised Listing e-Forms and guidelines for new applicants, Main Board (MB) issuers, and Growth Enterprise Market (GEM) issuers - The Listing e-Forms, which include...more
There are various exciting regulatory developments that we expect to see in Hong Kong throughout 2021. This bulletin looks at a number of key regulatory areas of focus in relation to: i) anti-money laundering and...more
In response to the growing popularity in the use of external data storage for record-keeping, on 31 October 2019, the Hong Kong Securities and Futures Commission (SFC) issued a circular to licensed corporations (LCs) on the...more
Key developments of interest over the last month include: Europe: The CJEU has found that (i) PSD2 does not restrict the type of terms that can be changed by tacit consent, but where the payment service user is a consumer the...more
Hong Kong Exchanges and Clearing Limited (HKEx) signs agreement with MSCI Inc. (MSCI) to license indexes to launch Asia and Emerging Markets futures and options contracts ...more
The Hong Kong Securities and Futures Commission ( SFC) has observed that the use of external electronic data storage providers (EDSPs), including public and private cloud storage, by licensed corporations (LCs) has become...more
Under the Senior Managers and Certification Regime (“SMCR”), firms are required to identify and report to the FCA any instances of disciplinary action taken in relation to conduct that would amount to a breach of one of the...more
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
The HKMA and SFC are jointly consulting on further enhancements to OTC derivatives reporting and clearing obligations. Key Points: ..The HKMA and the SFC have proposed mandating the use of UTIs for the reporting...more
After a year of consultation with the mutual funds industry regarding changes that aim to modernise the regulatory regime for SFC-authorised funds, the Hong Kong Securities and Futures Commission (SFC) revised the Code on...more
Hong Kong is increasingly a popular jurisdiction for fund distribution, given its nexus with the People’s Republic of China. Historically, investment funds usually have been established in the form of offshore mutual funds,...more
On 26 March 2018, the Securities and Futures Commission (the "SFC") issued a Circular to licensed corporations on expected standards for sponsor work (the "Circular") and a Report on the Thematic Review of Licensed...more
Following an initial “soft” consultation with industry participants and relevant stakeholders, the Securities and Futures Commission (SFC) launched a three-month consultation on proposed amendments to the Code on Unit Trusts...more
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
The use of online platforms for distribution of financial products has become increasingly popular in Hong Kong. In May 2017, the Hong Kong Securities and Futures Commission (SFC) issued a Consultation Paper inviting comments...more