Ropes & Gray LLP (JD Supra Hong Kong)
Third-Party Screening and Monitoring Are Critical for Health Care and Life Science Companies
Third parties serve a critical function to multinational life sciences companies (“MNCs”) internationally. MNCs rely on third parties for various functions, including distribution, sales and market acquisition, customs clearance, import/export processes, and license/permit applications. Local third parties can enable MNCs to access established infrastructures and resources that would otherwise be
Hong Kong Proposes Enhanced AML Obligations for Professionals and Beneficial Owner Registries for Hong Kong Companies
The Hong Kong Government has recently proposed to expand its anti-money laundering (“AML”) laws. This is expected to assist Hong Kong in keeping pace with AML developments in other financial centers, and to prepare for its upcoming FATF mutual evaluation in 2018.
Legal Advice Privilege – HK Court of Appeal Steers Away from Three Rivers
On June 29, 2015, the Court of Appeal of the HKSAR handed down an important judgment relating to legal advice privilege. The Court of Appeal decided to adopt the “dominant purpose test” when considering whether legal advice privilege should attach to a document that disagrees with the restrictive definition of “client” adopted by the English Court of Appeal in the case of Three Rivers (No.