Regulatory & Compliance

Insider dealing – whether s.213(2)(b) engaged – whether consent order to be made under s. 213(2)(b) restoring counterparties to pre-transaction position and/or compensating counterparties –...
October 2017
In early September, China’s central bank declared that initial coin offerings (“ICOs”) are illegal, sending shockwaves throughout the virtual currency industry. The People’s Bank of China (“PBOC”),...
October 2017
In Securities and Futures Commission v Yiu Hoi Ying Charles and Wong Nan Marian (CACV154/2016) (the “CA Decision”), the Court of Appeal (“CA”) recently upheld that dealing in securities...
October 2017
The Securities and Futures Commission (“SFC”) signed its first Co-operation Agreement with the UK’s Financial Conduct Authority (“FCA”) in May this year, followed by another similar Co...
September 2017
Credit rating agency – definition of credit ratings – “red flag” report itself did not constitute credit rating – distinction between assessment of some (but not all) elements of credit risk and...
September 2017
Hong Kong and Singapore are seeking to snare a bigger share of the US$540 trillion global derivatives business, taking advantage of tough new UK and European banking rules and uncertainty...
September 2017
Hong Kong's Securities and Futures Commission ("SFC") warned on Tuesday, 5 September, it may regulate some fundraisings that are done through digital currencies as volumes of the so-called initial...
September 2017
Hong Kong Exchanges & Clearing's chief executive, Charles Li, said he expects to conclude final recommendations "in the coming weeks" on rules for a new trading board, aimed at luring secondary...
September 2017
The Egg Drop Experiment Remember that experiment where students would build a container for eggs, then drop the container from a height, to see if it would protect the eggs from breaking?...
August 2017
Insider dealing – s. 271(3) defence that purpose of dealing did not include securing profit by “using relevant information” – “using” in s. 271(3) did not cover withholding or non-...
August 2017
In late July, the Securities and Futures Commission (“SFC”) announced that it had entered into a supervisory memorandum of understanding (“MOU”) with the UK Financial Conduct Authority (“FCA”)....
August 2017
On 11 July 2017, the Cyberspace Administration of China (“CAC”) circulated for public comment the Rules on the Protection of Critical Information Infrastructure Security (Draft for Comments...
August 2017
Banking regulators will postpone their next meeting in another bid to agree on global capital rules, taking more time to try to overcome objections from European banks to minimum capital levels,...
August 2017
Hong Kong's securities regulator has vowed to take action against private equity funds and discretionary accounts involved in "improper activities" amid increased market scrutiny by authorities...
August 2017
The Market Misconduct Tribunal recently found that a no material adverse change (“no-MAC”) statement published by CITIC Limited in 2008 did not constitute market misconduct under s. 277 of the...
July 2017
Bank Culture Reform The Hong Kong Monetary Authority (the “HKMA”) released a circular entitled “Bank Culture Reform” on 2 March 2017. The circular sets out a framework for establishing a sound...
July 2017
Tencent Holdings' online publishing subsidiary has sought a waiver from Hong Kong listing rules to allow it to withhold shareholding information of some executives, drawing criticism...
July 2017
Global regulators warned on Wednesday, 5 July, of shortcomings in efforts to ensure that clearing houses can recover from a crisis without a meltdown in the financial system or a taxpayer bailout...
July 2017
Hong Kong's ever-closer relationship with mainland China may be good for business, but it poses growing corporate governance challenges for the former British colony, which this weekend marks 20...
July 2017
The central banks of China and Hong Kong on Sunday, 2 July, said non-mainland investors can start trading Chinese corporate bonds in a trial beginning on Monday, confirming a calendar...
July 2017