• JD Supra Hong Kong

Publisher:
JD Supra
Publication date:
2019-04-29

Latest documents

  • Global Patent Prosecution - November 2019

    Recent Changes to the Patent Laws in Singapore and Hong Kong -
 
 Autumn appears to be a popular time to amend patent rules/laws as a number of jurisdictions have done so. In addition to formality changes in Canada and India, Singapore and Hong Kong have introduced changes that may significantly impact filing strategies in these jurisdictions. In the November issue of the Global Patent Prosecution Newsletter, we highlight these upcoming changes in Singapore and Hong Kong...
 
 Please see full Newsletter below for more information.

  • Hong Kong District Council Elections: a Closer Look

    The 2019 Hong Kong District Council elections are scheduled for November 24, 2019. The District Councils are low-level bodies that are typically charged with neighborhood affairs, but the importance of this election has risen dramatically due to widespread political unrest in the city. 

  • Hong Kong Law Contract Guide

    Our team in Hong Kong recently developed a Hong Kong Law Contract Guide. The guide discusses relevant legal principles that inform the most common contractual clauses in Hong Kong. The guide offers practical points to consider in drafting a contract, and sample clauses that may be a useful reference when preparing or reviewing a contract. The guide also addresses Hong Kong principles related to implied terms, privity of contract, and resolution of disputes. As activity into Hong Kong grows, we hope this resource helps to facilitate the agreement process.
 
 Please see full Publication below for more information.

  • Watch out for the Statutory Limitation Period in Hong Kong for Enforcement of PRC Arbitral Award

    In a recent judgment delivered in Wang Peiji v. Wei Zhiyong [2019] HKCFI 2593, [2019] HKEC 3446, the Hong Kong Court of First Instance set aside an order to enforce a PRC arbitral award on the ground that the cause of action arising out of the award was time-barred.

  • Hong Kong FinTech Week: Day 1 in Review

    SFC outlines new regulatory framework for virtual asset trading platforms, HKMA highlights recent FinTech initiatives, and PBOC discusses China’s forthcoming central bank digital currency. The fourth annual Hong Kong FinTech Week conference kicked off with a major announcement from Mr. Ashley Alder, Chief Executive Officer of the Securities and Futures Commission (SFC), who introduced a new, formalized regulatory framework for virtual asset trading platforms (VATPs).

  • SFC Addresses Regulation of Managers of Virtual Asset Funds and Virtual Asset Discretionary Accounts

    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 regard, on October 4, 2019 the SFC issued “Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets (T&Cs). The T&Cs set forth terms and conditions that are imposed on all in-scope virtual asset fund managers in the form of licensing conditions, subject to minor variations and elaborations concerning certain business models. This OnPoint provides an overview of the T&Cs.
 
 Scope of Application - 
 
 The T&Cs apply to licensed corporations that manage funds (or portions of funds) that invest in “virtual assets”, and which have: (a) a stated investment objective to invest in virtual assets; or (b) an intention to invest 10% or more of the gross asset value of their portfolio in virtual assets (Virtual Asset Fund Managers). “Virtual assets” are digital representations of value, which may be in the form of: digital tokens (e.g., digital currencies, utility tokens or asset-backed tokens); any other virtual commodities; and crypto assets or other assets of essentially the same nature, irrespective of whether they may be deemed “securities” or “futures contracts” as defined in the Securities and Futures Ordinance (SFO).
 
 Please see full On Point below for more information.

  • SFC Takes Enforcement Action Against Private Equity Firm, a Director and Investment Manager

    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 persons to perform regulated functions for its asset management business. This disciplinary action, following the SFC's recent confirmation to exclude private offshore companies from the private securities exemption, may signify the beginning of a trend towards enforcement by the SFC against private equity managers

  • Update on Manager-in-Charge Regime

    The Manager-in-Charge (“MIC”) regime was fully implemented by the Securities and Futures Commission (“SFC”) on 17 October 2017 to promote proper conduct and increase awareness of individual responsibility and accountability. While the MIC regime was not intended by the SFC to be an enforcement tool, the SFC’s Enforcement Division has investigated whether certain MICs have appropriately fulfilled their obligations in supervising regulated activities within their corporations. It is therefore important for corporations to fully understand the regime. With this goal in mind, we have prepared the following overview and the SFC’s latest update on the MIC regime.

  • Back to basics - Hong Kong Court of Appeal queries approach to winding-up petitions where arbitration is involved

    The Hong Kong Court of Appeal has suggested that a previous Court decision may have overstepped the mark by suggesting that an arbitration clause in a client agreement should generally take precedence over a creditor's right to present a winding-up petition.

  • Hong Kong Regulatory Update – October 2019

    This update provides an overview of key regulatory developments in the past three months relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx), and their advisers. In particular, it covers amendments to the Rules Governing the Listing of Securities on HKEx (Listing Rules) as well as announcements, guidance and enforcement-related news from HKEx and the Securities and Futures Commission (SFC). From time to time it may also cover other recent market developments....

Featured documents

  • Listing in Hong Kong: The Process for Delaware Companies

    Delaware companies now have a roadmap to apply for a listing on the Hong Kong Stock Exchange.
 
 
 
 In February 2012, the Hong Kong Stock Exchange (HKEx) issued Listing Decision HKEx-LD24-2012, which permits companies incorporated in Delaware to list on HKEx if they comply with...

  • New-Tech Credit Cards On The Way

    The Bank of China Hong Kong announced recently that it plans to launch its first credit card that is compatible with Near Field Communication ("NFC) technology this year....

  • Hong Kong SFC Continues To Step Up Its Enforcement Action amidst Enhanced Regulation of IPO Sponsors

    With the date for the introduction of the new regulatory regime for IPO sponsors now just a matter of weeks away on October 1, 2013, the Hong Kong market has witnessed further action taken by the Securities and Futures Commission (SFC) against a Hong Kong-listed company accused of behaviour that...

  • A Materially Different View On Pre-deal Research Reports In Hong Kong IPOs

    As financial markets globalize, particular markets have increasing opportunities to shape themselves by adopting processes, concepts and regulatory frameworks borrowed from other markets. Given their highly-developed nature, United States capital markets feature many aspects that have been...

  • "Hong Kong Regulatory Update"

    This Hong Kong regulatory update is intended to provide a brief overview of the principal Hong Kong regulatory developments in the preceding three months relevant to companies listed or proposed to be listed on The Stock Exchange of Hong Kong Limited (the HKEx) and their advisers, including HKEx...

  • Hong Kong Closer to Complete Overhaul of Regulatory Regime for Payment Systems

    On 23 January 2015, and following a lengthy consultation process, the Legislative Council of Hong Kong published the Clearing and Settlement Systems (Amendment) Bill 2015 (the “Bill”) which proposes a new regulatory regime for stored value facilities (SVF) and retail payment systems (RPS) in Hong...

  • Full Steam Ahead for the Through-Train – Part Two: The Shenzhen-Hong Kong Stock Connect

    The Shanghai-Hong Kong Stock Connect (“Shanghai Train”), a pilot program for establishing mutual stock market access between Mainland China and Hong Kong, was announced in April 2014 by Premier Li Keqiang at the Boao Forum for Asia, and was officially launched in November 2014. The new cross-border ...

  • Hong Kong: Law Reform Commission Recommends Allowing Third-Party Funding for Arbitration

    Consultation Paper reviews Third-Party Funding in other jurisdictions, finding the practice may lead to better outcomes in disputes.

 

 The Hong Kong Law Reform Commission published a Consultation Paper on 19 October 2015 recommending that Third-Party Funding (TPF) for arbitration ...

  • SFC Published the Consultation Conclusions on the Client Agreement Requirements

    On 8 December 2015, the Securities and Futures Commission of Hong Kong (the “SFC”) released the “Consultation Conclusions on the Client Agreement Requirements” (“Consultation Conclusions”), in which the SFC has resolved to proceed with the proposal to require the incorporation of a new clause into...

  • Hong Kong in the Spotlight – the ICIJ Release Panama Papers Offshore Companies Data

    On May 9, 2016 the International Consortium of Investigative Journalists (ICIJ) released a searchable database with information on almost 320,000 offshore entities from of the Panama Papers and Offshore Leaks investigations. The Mossack Fonesca leaks and subsequent publication of the database, the...