Regulatory & Compliance

The warning was there in an Industry Insights of the Hong Lawyer Journal, April 2015 (“Internal Controls – No Passing the Buck or Turning a Blind-Eye"): "… Unlike some regulators in some parts of...
July 2020
In the Financial Secretary's 2020 – 2021 budget speech, the Hong Kong government announced that it will consider extending the anti-money laundering/counter terrorist financing requirements to cover...
July 2020
Since 2013, the Stock Exchange of Hong Kong Limited (the “Exchange”) has been publishing decisions on reasons for rejection of listing applications to provide greater transparency to the market....
June 2020
Government law enforcement agencies have long seized mobile phones and computers (with and without warrants) where they could contain material relevant to their investigation. The seizure of such...
April 2020
The Securities and Futures Commission's "Statement of Disciplinary Action", attached to its Press Release dated 14 February 2020 (in the matter of a locally licensed company "CGML"), is another...
March 2020
On August 19, 2019, the Hong Kong Independent Commission Against Corruption (“ICAC”) and the Hong Kong Securities and Futures Commission (“SFC”) signed a Memorandum of Understanding (“MoU”) to...
February 2020
With limited exceptions, companies seeking a listing for their equity shares in Hong Kong will normally also engage in a public offering that invokes the prospectus provisions of the Companies (...
January 2020
The Securities and Futures Commission (“SFC”) has highlighted its concerns on certain aspects of recent corporate acquisitions and disposals by listed companies. The SFC issued a guidance note...
December 2019
There has been a heated debate over “shell creation” and backdoor listing (also known as “reverse takeover(s)”, “RTO(s)”) in recent years, which enables a potential buyer of the issuer to secure...
December 2019
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
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
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
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