Jones Day (JD Supra Hong Kong)
Hong Kong Implements New National Security Law - Hong Kong has recently implemented a national security law that aims to safeguard national security and uphold the policy of "One Country, Two Systems."
On June 30, 2020, the Standing Committee of the National People's Congress of the People's Republic of China passed the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region ("National Security Law"). This took effect at 11 p.m. on the same day. The National Security Law applies to, inter alia: (i) offences committed within Hong...
China Accelerates Blockchain Adoption in the New Decade
The Situation: Authorities in China have cracked down on privately developed cryptocurrency, yet have heavily invested in and encouraged the development of other blockchain applications and services. The Result: The rapidly rising number of blockchain projects in China is accompanied by increased regulation, including a requirement that blockchain-related projects be registered with the...
New Patent System with Substantive Examination Introduced in Hong Kong
The Situation: In addition to the current standard patents and short-term patents, Hong Kong is making available original grant standard patents and, starting December 19, 2019, conducting substantive examination over these patents. The Result: Under the current patent system, an applicant can apply to re-register standard patents or file short-term patents to enjoy maximum protection terms of
New Hong Kong International Arbitration Centre Rules Take Effect
The updated rules should make the arbitration process in Hong Kong more time-efficient and cost-effective. The Hong Kong International Arbitration Centre ("HKIAC") has launched a new version of its administered arbitration rules ("2018 Rules"). The 2018 Rules came into effect on November 1, 2018, and apply to domestic and international arbitrations commenced under contract or treaty from that...
Hong Kong Exchange Publishes Conclusions on Delisting Consultation
The Situation: While a trading suspension gives an issuer an opportunity to remedy the underlying issues that led to the suspension with a view towards trading resumption, the absence of a mechanism under Hong Kong's current regulatory framework to effectively prevent prolonged suspensions deprives shareholders of the ability to trade securities and prevents proper functioning of the market. ...
Hong Kong Cracks Down on Digital Tokens and Cryptocurrency Exchanges
The Situation: Surging interest in digital tokens has caught the attention of regulators in Hong Kong. The Development: Hong Kong's Securities and Futures Commission recently introduced additional regulatory measures, and seven digital token / cryptocurrency exchanges are under investigation for potential unlicensed trading in "securities."
Announcement Clarifies Regulatory Position on Initial Coin Offerings in Hong Kong
The Situation: The Hong Kong Securities and Futures Commission has issued a statement explaining that, depending on the facts and circumstances of an initial coin offering ("ICO"), the ICO and any digital tokens that are offered or sold under it may be subject to the securities laws of Hong Kong.