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Hauzen LLP

HKMA Circular: Authorized Institutions and VAs
HKMA Circular: Authorized Institutions and VAs 1400 788 Hauzen LLP
The HKMA recently issued a circular on regulatory approaches to Authorized Institutions’ interface with virtual assets and virtual asset service providers.

Joint Circular: Intermediaries of VA-related Activities
Joint Circular: Intermediaries of VA-related Activities 1400 788 Hauzen LLP
The SFC/HKMA joint-circular dated 28 January 2022 covers the provision of VA-related products, VA dealing services and VA advisory services.

Consultation on New Type 13 Regulated Activity
Consultation on New Type 13 Regulated Activity 1400 788 Hauzen LLP
In Feb 2022, SFC released its Consultation Conclusions on the Proposed Regulatory Regime for Depositaries of SFC-authorised Collective Investment Schemes.

HK Court to Go Ahead with Keepwell Claim
HK Court to Go Ahead with Keepwell Claim 1920 1080 Hauzen LLP
Claims under a Keepwell Deed, despite ongoing insolvency proceedings in PRC, should be determined in Hong Kong according to its exclusive jurisdiction clause.

New Investigatory Powers for Privacy Commissioner for Personal Data to Combat Doxxing
New Investigatory Powers for Privacy Commissioner for Personal Data to Combat Doxxing 1400 787 Hauzen LLP
With the passing of the Personal Data Ordinance 2021, the Commissioner is now empowered in-line with other regulatory bodies like SFC and Insurance authority.

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life
SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life 1400 788 Hauzen LLP
Readers are reminded to be alert if approached with securities & futures investments or dealing with anyone claiming they are licensed / registered in Hong Kong

Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate
Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate 1400 787 Hauzen LLP
10 individuals, believed to be key members of the syndicate, including some senior executives of Hong Kong listed companies were arrested.
Financial Services Regulation

Exchange Published Conclusions on Review of Corporate Governance Code
Exchange Published Conclusions on Review of Corporate Governance Code 1920 1080 Hauzen LLP
Amended Listing Rules and CG Code came into effect on 1 Jan 2022, and will apply to CG reports for financial year commencing on or after 1 Jan 2021.

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances
Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances 1400 788 Hauzen LLP
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.

Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted
Employment & Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 Gazetted 1400 788 Hauzen LLP
Abolishes use of accrued benefits of employers’ mandatory contributions under Mandatory Provident Fund scheme to offset severance payment & long service payment.
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