Hauzen LLP, Author at Hauzen LLP

Hauzen LLP
04/03/2022

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances https://hauzen.hk/wp-content/uploads/2021/02/bangkok-stairs-ryan-tang-8OyZGH43-p4-unsplash-sm.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 04/03/2022 24/03/2022

MetLife (now FWD Life) & Metropolitan Life Insurance (now FWD Life Assurance) fined HK$7 million. It is clear that the IA takes these failures very seriously.

Hauzen LLP
04/03/2022

Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted

Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted https://hauzen.hk/wp-content/uploads/2021/12/papers-pexels-brotin-biswas-518543_1400x788sm.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 04/03/2022 15/08/2024

Abolishes use of accrued benefits of employers’ mandatory contributions under Mandatory Provident Fund scheme to offset severance payment & long service payment.

Hauzen LLP
02/12/2021

SFC Reprimands & Fines Fulbright Securities $3.3M, Suspends License of RO

SFC Reprimands & Fines Fulbright Securities $3.3M, Suspends License of RO https://hauzen.hk/wp-content/uploads/2021/11/woam-computer-pexels-mikhail-nilov-7534101_1400x788.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 02/12/2021 15/08/2024

Key takeaway is that SFC won’t hesitate to sanction both licensed corporation and licensed person and attribute the misconduct to licensed person.

Hauzen LLP
02/12/2021

Insurance Authority Publishes an Explanatory Note on “Regulated Activity”

Insurance Authority Publishes an Explanatory Note on “Regulated Activity” https://hauzen.hk/wp-content/uploads/2020/02/hong-kong-rostyslav-savchyn-NyXEqJ_qxtQ-unsplash_1400x788sm.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 02/12/2021 15/08/2024

An important consideration for currently unregulated entities providing insight into IA’s assessment whether activities will or won’t fall under regulatory regime of Insurance Ordinance.

Hauzen LLP
01/12/2021

Listed Companies Governance

Exchange Published Conclusions on Reforms to Enhance Listing Regime for Overseas Issuers

Exchange Published Conclusions on Reforms to Enhance Listing Regime for Overseas Issuers https://hauzen.hk/wp-content/uploads/2021/11/guangzhou-derch-Zp4gRwQFLRE-unsplash_1400x788.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 01/12/2021 24/03/2022

To enhance and streamline the listing regime for overseas issuers. The amended Listing Rules and the new guidance materials will take effect from 1 January 2022.

Hauzen LLP
23/11/2021

Court Finds Trio Insider Dealing in TeleEye Shares & Order Disgorgement of Profits

Court Finds Trio Insider Dealing in TeleEye Shares & Order Disgorgement of Profits https://hauzen.hk/wp-content/uploads/2022/01/hong-kong-city-5012735_1920_1400x788sm.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 23/11/2021 15/08/2024

We remind the reader that there are serious consequences to insider dealing and for failing to respond to SFC’s enquiries and investigation.

Hauzen LLP
19/11/2021

Corporate Services

Publication of Corporate Governance & ESG (Climate Disclosures) Guidance

Publication of Corporate Governance & ESG (Climate Disclosures) Guidance https://hauzen.hk/wp-content/uploads/2021/11/ice-melt-annie-spratt-BqYttheZzUo-unsplash_1400x788.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 19/11/2021 24/03/2022

On 5 November 2021, the Exchange published guidance on climate disclosures and analysis of IPO applicants’ ESG practice disclosure in 2020/2021.

Hauzen LLP
16/11/2021

Financial Services Regulation

HKMA Releases Technical Whitepaper on Retail Central Bank Digital Currency

HKMA Releases Technical Whitepaper on Retail Central Bank Digital Currency https://hauzen.hk/wp-content/uploads/2021/11/circuitboard-vishnu-mohanan-pfR18JNEMv8-unsplash_1400x788.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 16/11/2021 24/03/2022

With global trend of issuance of CBDC, HKMA released whitepaper exploring potential architecture and design options that could be applied to distributing e-HKD.

Hauzen LLP
10/11/2021

Data Privacy

PCPD FAQ on EU’s New Standard Contractual Clauses for Personal Data

PCPD FAQ on EU’s New Standard Contractual Clauses for Personal Data https://hauzen.hk/wp-content/uploads/2021/11/personal-data-pexels-thisisengineering-3861969_1400x787sm.jpg 1400 787 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 10/11/2021 10/01/2022

From 27 September 2021 on, data exporters & importers can only conclude contracts incorporating new SCCs for transfer of personal data out of European Union.

Hauzen LLP
08/11/2021

Hauzen LLP Announces the Appointment of New Partner Nigel Binnersley

Hauzen LLP Announces the Appointment of New Partner Nigel Binnersley https://hauzen.hk/wp-content/uploads/2021/11/hauzen-LLP-nigel-binnersley_1029x402.jpg 1029 402 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 08/11/2021 31/05/2022

Arrival of new partner Nigel Binnersley and his team of litigators reflects the expansion of the Firm in dispute resolution, particularly in the financial markets.

Hauzen LLP