News & Analysis as of

Hong Kong

3 Ways to Avoid Surprises in Cross-Border Investigations Involving the Hong Kong SFC

by Kobre & Kim on

As global securities investigations and enforcement actions continue to proliferate, Hong Kong’s Securities and Futures Commission (SFC) recently strengthened its cross-border cooperation with peer agencies around the world,...more

Hong Kong Offers New Capital Markets Opportunity for Life Sciences and Healthcare Companies

by Dorsey & Whitney LLP on

Historically, the US, and, in particular, the NASDAQ market, has been the predominant place for IPOs of life sciences and healthcare companies. However, 2018 may be the year in which things start to change....more

The SFC's enforcement priorities for 2018

by Hogan Lovells on

In late February, the SFC published its Enforcement Reporter setting out its enforcement priorities and approaches for 2018. The SFC emphasized its enhanced cross-divisional collaborative approach with more targeted...more

New listing regime proposals for emerging and innovative companies

by Hogan Lovells on

On 23 February 2018, the Stock Exchange of Hong Kong Limited (the "HKEx") published a consultation paper seeking public comments on Listing Rules amendments aimed at expanding the listing regime to help list companies from...more

Hong Kong Exchange Publishes Draft Rules for Biotech Listings, Requests Comments

by Jones Day on

The Hong Kong Stock Exchange recently published a Consultation Paper on a Listing Regime for Companies from Emerging and Innovative Sectors, and proposed to introduce a new chapter implementing the listing of...more

New Obligation for Hong Kong Companies to Maintain a Significant Controllers Register

by Latham & Watkins LLP on

Hong Kong incorporated companies are required to maintain a register of significant controllers and should take reasonable steps to identify its significant controllers. Summary - From 1 March 2018, all Hong Kong...more

SEC Temporarily Suspends Trading of UBI Blockchain Internet, Ltd. Over Questions as to Disclosure

On Monday January 8, 2018, the U.S. Securities and Exchange Commission (SEC) halted all trading in the stock of the Hong Kong-based firm, UBI Blockchain Internet, Ltd. (OTC ticker UBIA). “The commission is of the opinion that...more

Recent Developments in the Regulation of Employment Agencies

by DLA Piper on

There have been some key developments in relation to the regulation and licensing of employment agencies (EAs). Recent enforcement action by the Commissioner for Labour also evidences a growing trend towards closer monitoring...more

Hong Kong Court confirms common law recognition and assistance of foreign voluntary liquidations

by Hogan Lovells on

On 8 February 2018, the Hong Kong Court of First Instance (the “Hong Kong Court“) ruled that the common law power to recognise and assist foreign insolvency proceedings extends to voluntary liquidations – this is the first...more

US Announces New North Korea Designations and Global Shipping Advisory

by Dentons on

On February 23, 2018, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced what it described as the "largest North Korea-related sanctions tranche to date, aimed at disrupting North Korean shipping...more

Enhancements to the Fund Manager Code of Conduct

by DLA Piper on

In light of the robust international developments in the regulatory regime for the asset management industry, the Securities and Futures Commission (SFC) launched a three-month consultation1 on proposals to be made to the...more

Hong Kong Announces Groundbreaking New Rules for Dual-Class Share, High-Tech and Biotech Company Listings

After publishing the “New Board Concept Paper Conclusions” in December 2017, the Stock Exchange of Hong Kong Limited (the Exchange) issued on 23 February 2018 a consultation paper entitled “A Listing Regime for Companies From...more

Compliance Reminder About 7 Days Left to Get Ready

by Reed Smith on

The Companies (Amendment) Ordinance 2018 (the “Amendment Ordinance”) will come into operation on 1 March 2018. With about 7 days to go, are you ready?...more

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

by Allen & Overy LLP on

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

Legal Trends and Challenges in Asia

by Epiq on

For many legal practitioners, Asia remains a legal challenge, “whether it’s the different data sources, the lack of familiarity with case law or an understanding of the legal landscape in different countries, from Hong Kong...more

Truth be told – witness preparation in Singapore, Hong Kong and the United States

Working with clients and witnesses internationally poses unique issues for attorneys and their clients. What may be considered best practices in the United States may be restricted or even forbidden in other jurisdictions....more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Each SEC Commissioner joined a statement saying “Thank you Jacob” and fair well to perhaps the longest tenured staff member at the agency, Jacob Stillman. Jake joined the staff in 1962 and served in various capacities for 55...more

China’s Greater Bay Area Puts Hong Kong In The Lead As Super Connector To The World

by Dorsey & Whitney LLP on

China’s open door policy is further opening up to welcome the world for business. The country is now building a landmark megalopolis on its southern coast with the name the “Greater Bay Area” (the “GBA”). ...more

Hong Kong Securities and Futures Commission Proposes Raising Whitewash Approval Threshold

by Jones Day on

The Situation: The high level of certainty of obtaining shareholders' approval for whitewash waivers could lead to potential abuse by parties looking to obtain or consolidate control through whitewash transactions in Hong...more

Hong Kong Securities Commission Launches Inquiry Into Seven Crypto Exchanges

by Reed Smith on

On February 9, 2018, the Hong Kong Securities and Futures Commission (“SFC”) released a statement which, among other things, informs the marketplace that the SFC sent letters to seven Hong Kong cryptocurrency exchanges...more

HKMA reboots virtual banking

by Hogan Lovells on

On 6 February, 2018, the Hong Kong Monetary Authority (the “HKMA”) published draft revisions to its “Guideline on Authorization of Virtual Banks” (the “Draft Guideline”). Please see full Publication below for more...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Cryptocurrencies continued to be an important topic of discussion this week. The Chairman of the SEC and the Chairman of the CFTC testified before the Senate Banking Committee on the subject....more

Hong Kong Companies – New Compliance Requirement Effective From 1 March 2018

by Reed Smith on

The Companies (Amendment) Ordinance 2018 (the “Amendment Ordinance”) will come into operation on 1 March 2018. New register to be kept. Under the Amendment Ordinance, all Hong Kong companies (other than companies listed in...more

Shaping the Approach of the SFC - the Process Review Panel Report 2017

by Allen & Overy LLP on

In December 2017, the Process Review Panel (PRP), tasked to ensure fairness and consistency in the operation of the Securities and Futures Commission (SFC), published its annual report for 2016-17. The PRP’s report provides...more

As President Xi’s Power Grows, So Does China’s Presence on World Stage

In October 2017 at the Chinese Communist Party National Congress, President Xi Jinping consolidated his hold on power and cemented himself as what many commentators are calling the most powerful Chinese leader since Mao...more

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