News & Analysis as of

Hong Kong

Heavy jail sentence handed down on illegal set-top boxes sellers in Hong Kong

by Hogan Lovells on

On 28 December 2017, the District Court of Hong Kong handed down sentences varying from 21 to 27 months’ imprisonment against 3 individuals who took part in a scheme that enabled users of the “Maige Set Top Box” (the “Maige...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Robert Jackson and Hester Peirce were sworn in as Commissioners yesterday by Chairman Clayton. Mr. Jackson joined the agency from NYU School of law where he was a professor....more

European Commission Declares Trading Venues in Australia, Hong Kong and USA Equivalent Under the Revised Markets in Financial...

by Shearman & Sterling LLP on

The European Commission has adopted Implementing Decisions for equivalence of the legal and supervisory framework of Australia, Hong Kong and the USA for national securities exchanges and alternative trading systems in...more

Financial Services Quarterly Report - Fourth Quarter 2017: Hong Kong’s New Asset Management Regulations

by Dechert LLP on

The Hong Kong Securities and Futures Commission (SFC) on 16 November 2017 published its Conclusions on its one-year consultation in relation to enhancement of asset management regulation and point-of-sale transparency...more

Pre-Revenue Biotech Companies Cleared to List on Hong Kong Stock Exchange

by Jones Day on

The Situation: The Hong Kong Stock Exchange’s failure to recognize that investors are able to evaluate biotech companies in the pre-revenue stages, and its consequent refusal to list those companies for trading, is viewed by...more

Hong Kong's Listing Regime – The Way Forward

by Hogan Lovells on

With overwhelming market support, The Stock Exchange of Hong Kong Limited has concluded that Hong Kong's listing regime must be expanded to remain competitive amidst a changing global capital environment. Please see full...more

2018 Spells a new beginning for IP arbitration in Hong Kong

by Hogan Lovells on

Arbitration (Amendment) Ordinance 2017 comes into effect - The long-awaited Arbitration (Amendment) Ordinance 2017 (the “Amendment Ordinance“) is finally applicable to arbitrations commenced on or after 1 January 2018 or...more

Revisiting cooperation with the SFC – what does it now mean?

by Allen & Overy LLP on

On 12 December, the Securities and Futures Commission (the SFC) published updated guidance on cooperation (the Guidance) in disciplinary, civil court and Market Misconduct Tribunal (MMT) proceedings. Much of the guidance is...more

Bank notified of a freezing injunction does not owe a duty of care to applicant

by Hogan Lovells on

The Hong Kong Court has confirmed that a bank notified of a freezing injunction does not owe a duty of care to the party in whose favour the injunction is granted. ...more

The Yangtze Xing Hua

by Reed Smith on

This was a further appeal, to the Court of Appeal, from an LMAA arbitration award, considering the true construction of the sweep-up provision at sub-clause 8(d) of the Inter-Club Agreement 1996 (“ICA ‘96”); specifically,...more

While you are celebrating: 4 simple holiday season cyber-readiness steps for Asian businesses

by DLA Piper on

The volume and scale of cyberattacks and cyberfrauds is rising. The pace at which these ever more sophisticated attacks can infiltrate systems around the globe suggests that the likelihood of an imminent attack on companies,...more

Hong Kong High Court Stays Litigation in Favor of Arbitration

by Dorsey & Whitney LLP on

On 27 November 2017, the High Court of Hong Kong issued a judgment in which it again demonstrated its willingness to uphold an arbitration agreement, despite arguments that the arbitration agreement had been superseded by a...more

Pride and Prejudice: The Power of Apologies

by K&L Gates LLP on

The workplace is an environment where tempers can flare and conflicts arise between co-workers, employers and external parties. More often than not, a simple apology might defuse the tension and help bring the parties towards...more

Arbitration World

by K&L Gates LLP on

Welcome to this 35th edition of Arbitration World, a publication from K&L Gates’ International Arbitration Group that highlights significant developments and issues in international and domestic arbitration for executives and...more

OTA & Travel Distribution Update - Oct. 20th, 2017

by Garvey Schubert Barer on

This week’s OTA & Travel Distribution Update for the week ending October 20, 2017 is below. Short-term rentals feature prominently is this week’s Update...more

SFC Highlights Deficiencies in Asset Management Industry

• The SFC has identified nine common areas of non-compliance in managing funds and discretionary accounts. • The SFC urged licensed corporations to review their existing internal control procedures and operational...more

Mapping responsibility: HKMA extends focus on management and its accountability

by Allen & Overy LLP on

On the day the transition period for the implementation of the Securities and Futures Commission’s (SFC) Manager-in-Charge regime (MIC Regime) for licensed corporations ended, the Hong Kong Monetary Authority (HKMA) announced...more

6 Key Considerations in China-related Arbitrations

by Latham & Watkins LLP on

Differences in enforcement and arbitral rules could cause difficulties for unwary parties engaged in or considering arbitration in mainland China. China’s economic growth has attracted significant foreign investment in...more

Financial Services Quarterly Report - Third Quarter 2017: Hong Kong SFC Issues Clarification on Standards Expected of Asset...

by Dechert LLP on

The Hong Kong Securities and Futures Commission (SFC) recently released a circular outlining its views on how asset managers should address certain conflicts of interest between private funds and separately managed accounts...more

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

by Dechert LLP on

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

LGBT Immigration Rights Upheld by Hong Kong Court

In a decision likely to please equal opportunities campaigners as well as global financial institutions and other employers of overseas talent in Hong Kong, the Court of Appeal has unanimously struck down an immigration...more

Hong Kong releases Consultation Report on Measures to Counter Base Erosion and Profit Shifting: key topics

by DLA Piper on

The Hong Kong government, represented by the Financial Services and the Treasury Bureau (FSTB) and the Inland Revenue Department (IRD), has released its Consultation Report on Measures to Counter Base Erosion and Profit...more

China’s ‘One Belt, One Road’ Initiative Creates Opportunities and Regulatory Challenges

In a time of shifting opinions on the benefits of globalization, China’s “One Belt, One Road” initiative (OBOR) offers an unexpected bright spot for multinational companies able and willing to participate in this...more

Opening the door for product placement in Hong Kong?

by Hogan Lovells on

On 4 September 2017, the Communications Authority of Hong Kong (“CA“) announced that it will review the relevant provisions in the codes of practice governing indirect advertising and product/service sponsorship (commonly...more

SFC Obtains Disqualification and Court Orders Against Hanergy’s Former Chairman and Current Directors

by Latham & Watkins LLP on

The Court of First Instance’s decision has important implications for directors of listed companies when failing to act in the best interests of the company. Background - On July 15, 2015, the Securities and Futures...more

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