Regulatory & Compliance

In February 2019, the Hong Kong Securities and Futures Commission (SFC) announced that it had revamped its licensing forms and issued a new version of its Licensing Handbook. One of the changes...
November 2019
Introduction The Stock Exchange of Hong Kong Limited (the “Exchange”) published the findings of the tenth review of listed issuers’ corporate governance practices (the “2017/2018 Review”) on 16...
September 2019
The Stock Exchange of Hong Kong Limited (“Exchange”) published a consultation paper on delisting in September 2017 (“Consultation Paper”). After feedback from the market, the Exchange issued its...
September 2019
The Securities and Futures Commission’s “Statement of Disciplinary Action” (the “SFC’s Statement”), attached to its press release dated 10 July 2019 (and publicly available), makes for some...
August 2019
Industry Snapshot More than 200 cryptoexchanges now operate internationally. While platforms that provide futures and options trading on Bitcoin and Ether are already subject to the oversight of...
August 2019
The Securities and Futures Commission (“SFC”), Hong Kong Exchanges and Clearing Limited (HKEx) and Federation of Share Registrars Limited (FSR) published a Consultation Paper on a Revised Operational...
August 2019
In March and May 2019 the Securities and Futures Commission (“SFC”) took disciplinary action against five investment banks in relation to shortcomings in the standards of sponsor work on three...
July 2019
China's cybersecurity regulators are now taking their first steps to verify organisations' (including foreign businesses') compliance with China's cybersecurity laws. As anticipated, the focus is on...
June 2019
The judgment of the Court of Appeal in Lok Man Fai v Architects Registration Board [2019] HKCA 405 is an important reminder of the general requirement that a statutory body which carries out a...
May 2019
The Securities and Futures Commission's Code of Conduct puts investor protection at its core. Paragraph 5.2 of the Code ("Know your client: reasonable advice") is the "suitability...
April 2019
On 10th August 2018, the Securities and Futures Commission (“SFC”) published in the Gazette an updated Disciplinary Fining Guidelines (“Fining Guidelines”). The SFC noted that the update “codified”...
April 2019
The interconnectivity of the global securities market means that aggressive regulators often pursue investigations and enforcement actions across multiple jurisdictions. Sometimes, jurisdictional...
April 2019
Hong Kong’s Securities and Futures Commission (SFC) enjoyed a strong 2018 on the enforcement penalties front, living up to its promise to focus its resources on fewer, but bigger, “high impact” cases...
March 2019
Introduction: Current Regime and Proposal In September 2018, the Stock Exchange of Hong Kong issued a Consultation Paper for a proposed new Listing Rule 13.50A. The proposed rule seeks to...
March 2019
The Property Management Services Authority's recent Consultation Paper on a "Proposed Licensing Regime for Property Management Companies and Property Management Practitioners" will be impenetrable to...
February 2019
With headlines in the news of regulated entities "self-reporting" or delaying in doing so, it is timely to consider some basic considerations. Regulators like self-reports by regulated entities and...
December 2018
Just like this Industry Insights, a Securities and Futures Commission ("SFC") 2018 year end litigation report might well be (sub-)titled "Taking Care Of Business". The expression might...
December 2018
Some participants in the crypto/blockchain/DLT industry actively invite regulatory oversight but policy considerations and the usual patterns of legal and regulatory development can mean that wanting...
November 2018
Section 300(1) of the Securities and Futures Ordinance (Cap. 571) “A person shall not, directly or indirectly, in a transaction involving securities, futures contracts or leveraged...
May 2018
Both the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Ordinance 2018 and the Companies (Amendment) Ordinance 2018 were passed by the Legislative Council...
April 2018